At Morning the Indian stock market opened on a firm note, The positive cues from the U.S. and Asian markets most of with indulging in some buying in several blue chip stocks,
Indian Telecom stocks gained on Friday after a. In the auction for airwaves the mobile unit of Reliance Industries did not win any spectrum in the premium 900 megahertz which lesser competition in the sector.
Both Idea Cellular and Bharti Airtel won airwaves in premium 900 megahertz band spectrum. Idea Cellular rose maximum at 6.7 percent, while Bharti Airtel rose 4.8 percent.
In opening trades the BSE benchmark Sensex, which rose to 20,313.02 which is currently up 62.60 points or 0.32% at 20,255.95. The Nifty index of the National Stock Exchange is up 12.10 points or 0.2% at 6013.20, around 20 points off an early high of 6033.30.
The rupee opened at 62.25 against the U.S. Dollar in the forex market , up 17 paise from Thursday's close of 62.37. While it shed some gains subsequently and is currently trading at 62.32 a dollar.
Bharti Airtel is makes announcement from the company that it has acquired 115.0 MHz spectrum for a total consideration of Rs 18530 crore in the just concluded spectrum auction conducted by the Government of India.
Idea Cellular is trading nearly 5% up at Rs 138. The company has announced that it has bagged a total of 65.2 MHz of spectrum in the auction. It now stands to get the necessary impetus to expand the network in Delhi to 3G on 900 MHz, and launch 45 in 8 of its key revenue markets, at appropriate juncture.
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