Telecom stocks mixed after 4G telecom spectrum auction


Telecom stocks are trading mixed on March 3 after the 4G telecom spectrum auction 2021 ended on March 2 with the government receiving bids worth Rs 77,814.80 crore.

Bids worth Rs 668. 20 crore were made on the second day of the auction, which saw bids worth Rs 77,146 crore on the first day.

Reliance Jio emerged as the biggest buyer by acquiring a total of 488.35 MHz of spectrum for Rs 57,122.65 crore, followed by Bharti Airtel with 355.45 MHz at Rs 18,698.75 crore, and Vodafone Idea with 11.80 MHz for Rs 1,993.40 crore, Telecom Secretary Anshul Prakash said.

Reliance Industries was quoting at Rs 2,116.30, up Rs 10.10, or 0.48 percent, Bharti Airtel was quoting at Rs 548.80, up Rs 7.55, or 1.39 percent and Vodafone Idea Limited was quoting at Rs 11.18, down Rs 0.20, or 1.76 percent on the BSE.

News Source:- Moneycontrol

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