TTML (Tata Teleservices Maharashtra) shares shot up more than 13 per cent on the BSE (Bombay Stock Exchange), after Union Cabinet nodded to waive the bank guarantee for telecom companies to purchase spectrum.
Shares of TTML zoomed more than 13 per cent to touch the intra day high level of Rs 78.20 per share on the Indian bourses, after hitting the opening bell at Rs 69.58 per share, surging about 0.76 per cent at the opening bell level.
The stock was currently trading around Rs 77.25 per share on the BSE, with rise of 11.88 per cent amounting to Rs 8.20 per share on the bourses.
Bharti Airtel
The Bharti Airtel share opened at Rs 1,590.00 per share on BSE before the stock went on to touch the day high level of Rs 1,604.85 on the Indian bourses.
The Bharti Airtel shares were trading around Rs 1571.60 per share on the Indian bourses with 0.45 per cent decline, amounting to Rs 7.15 per share.
Vi (Vodafone Idea)
The cash strapped Vi is the biggest beneficiary of this development, Vi needs to submit Rs 24,700 crore in BGs in total. October 2025 marks the end of the moratorium on spectrum auction dues.
The company's shares were trading around Rs 7.76 per share on the bourses with positive movement of 11.33 per cent, amounting to Rs 0.79 per share on the BSE.
Details of BG waiver for spectrum purchase
Following the spike in other telecom stocks, the Union Cabinet decided to provide telecom companies with relief by waiving the bank guarantees they owed for spectrum purchases through 2022.
The bank guarantees that telecom operators owe for purchasing spectrum should be waived, according to the Department of Telecommunications (DoT).
Other telecom companies agreed with Vi's initial request for the BG waiver. Vi will be the main beneficiary of the government's decision on the matter.
For example, Airtel only needs to pay roughly Rs 2,200 crore for its BG for the 2016 auction, which is due in September of next year. After Airtel, Jio's BG of about Rs 4,400 crore is due.
