Telecom stocks gained up to 3.4% after the inter-ministerial panel Telecom Commission backed lowering of spectrum usage charge to 3% of their annual revenue from next auction. In what could be good news to mobile operators, the inter-ministerial panel Telecom Commission has backed lowering of spectrum usage charge to 3% of their annual revenue. "For future auction, the Telecom Commission stood by its earlier recommendation to levy 3% SUC," an official source had said. Shares of Reliance Communications jumped 3.4% to Rs 50.05 and Bharti Airtel climbed 2.73% to Rs 358.70 on BSE. The government in January 2014 decided to cap SUC at a flat 5% for spectrum that was to be procured in future auctions.

Source: dna June 08, 2016 07:30 UTC