The empowered group of ministers (EGoM) on telecom headed by Finance Minister P Chidambaram on Monday decided to impose a one-time fee on incumbent operators prospectively for spectrum beyond 4.4 MHz in GSM and 2.5 MHz in CDMA.
DoT committee rejects most Trai suggestions for freeing airwaves for sale.
High spectrum charges would lead to rise in mobile services rates and adversely impact government's Digital India initiative by impeding telecom network expansion.
Telecom Regulatory Authority of India, on October 15, gave its recommendation on spectrum auction for premium 900 Mhz band and 1800 Mhz band that are presently being used for 2G GSM mobile services by Airtel, Vodafone, Idea Cellular and Reliance Communications.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
Textile and telecom shares have gained ahead of the Cabinet meet later today which is likely to announce new measures for both the sectors.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
Rise in crude oil price and rally in global equities aided the sentiment
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
The 30-share Sensex ended up 8 points at 27,508 and the 50-share Nifty closed 1 point higher at 8,284.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent
A daily ceiling of Rs 3 translates into maximum annual penalty of Rs 1,095 for every subscriber.
For 2100-MHz, 2300-MHz and 2500-MHz bands across circles; aim to offer these with 3G and 4G in February
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
After initial success, data use is stagnating and getting consumers to spend additional money for high-speed internet is proving to be difficult for telcos.
Income will be higher as spectrum in 2,100-MHz band will also be auctioned
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