Telecom Stocks Outlook: 30.07.2012 - 03.08.2012
Telecom stocks will next week eye the outcome of the
likely Union Cabinet decision on the proposed spectrum auction modalities,
which includes the recommendation on spectrum reserve proposed by the
Empowered Group of Ministers, headed by Home Minister P. Chidambaram.
According to an official of the telecom department, the final note on
spectrum auction norms is under process and is likely to be placed before
the Cabinet early next week, and may be taken up for a decision during its
weekly meeting. The EGoM is learned to have recommended a base price in the
range of 140-160 bln rupees for the auction of 5 MHz of spectrum in the
1,800 MHz band, down nearly 23% from Telecom Regulatory Authority of
India's proposed 181.1 bln rupees. The base price for auction of spectrum
in the 800 MHz band has been recommended at 1.3 times the final base price
for the 1,800 MHz band.
Investors will also eye the Apr-Jun earnings of OnMobile
Global to be announced on Tuesday. For the quarter, the company is seen
reporting a consolidated net profit of 154 mln rupees on revenues of 1.87
bln rupees. International revenues to continue posting significant growth
in Q1FY13 (Apr-Jun), while the domestic revenues are expected to remain
subdued. Stocks of OnMobile Global are expected to trade at 28-41 rupees
next week.
By RUPEE DESK [email protected]
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