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Telecom auction News
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The opening day of spectrum auction fetched bids worth Rs 77,146 crore
The participating companies include Reliance Jio, Bharti Airtel and Vodafone Idea
The government said the response was better than they expected
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Spectrum auction on Day 4 ended with a meagre addition of Rs 2,531 crore, taking total bids to over Rs 63,500 crore as almost 60 percent of airwaves, including the premium 4G bands of 700 Mhz and 900 Mhz, remained unsold.
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UK's Vodafone has flagged its concerns about high spectrum pricing, saying it can play a spoilsport for investment into India ahead of its biggest-ever telecom auction.
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As per the Department of Telecom , the total auction proceeds were Rs 1,02,057 crore till yesterday with sale of about 86 percent of the available spectrum in various bands.
Telecom stocks, led by Bharti Airtel, were in limelight Tuesday, surging by up to 7 percent in an otherwise weak stock market.
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The biggest ever auction of 2G and 3G airwaves Wednesday began on a high note with operators making bids worth an estimated Rs 60,000 crore after six rounds of bidding in all four bands.
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Telecom players will bid aggressively in the forthcoming spectrum auction and the government may be able to raise Rs 90,000 crore through the sale of radiowaves, credit rating agency Crisil said Monday.
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