RUPEE DESK- Telecom Stocks Outlook for the week (11 - 15.06.2012)
Telecom stocks are seen bearish next week due to the prevailing uncertainty on regulatory issues. The Empowered Group of Ministers met earlier this week to decide on the final set of recommendations on spectrum auction norms. The panel will meet again Jun 22 to finalise auction norms, which will also include the contentious issue of reserve price for the spectrum auction.
The regulator, in its recommendations dated Apr 23, had proposed a reserve
price of 36.22 bln rupees per 1 MHz of spectrum in the 1800 MHz band at a
pan-India level. The reserve prices for the auction of spectrum in various
bandwidths including the 1800 Mhz band, have been opposed by the industry,
which has termed them exorbitantly high and retrograde. Recommendation on
re-farming of spectrum has also invited sharp criticism from the industry.
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