Telecom Stocks Outlook for the week (02 - 06.Jul.2012)
rupeedesk
Telecom Stocks Outlook for the week (02 - 06.07.2012)
Telecom stocks next week will take cues from the outcome of the meeting of the Empowered Group of the Ministers on Monday that is expected to take a decision on the crucial issue of spectrum reserve pricing. Agriculture Minister Sharad Pawar will now be the chairperson of the panel, following resignation of Pranab Mukherjee, who headed it earlier, from the finance ministry to contest the Presidential elections. Telecom Regulatory Authority of India had recommended a reserve price of 36.22 bln rupees per 1 MHz of spectrum in the 1800 MHz band at a pan-India level. Along with the reserve price, the panel is also expected to decide on spectrum refarming, trading, roll-out obligations and whether prospective spectrum charge should be levied on the incumbent operators for the remaining period of their licences. Meanwhile, the telecom department has sent a draft cabinet note on spectrum auction norms to various ministries in order to have their feedback. The government is running out of time to conduct auction of spectrum as the Supreme Court has set Aug 31 as the deadline for the process. The department is expected to finalise an auctioneer to undertake the auction process by Jul 10. Bias for stocks of Bharti Airtel is seen positive.
| By RUPEE DESK |
| rupe...@googlegroups.com |
| (www.rupeedesk.in) |