Shyam Telecom up 20%, SSTL gets unified telecom licence

Moneycontrol Bureau

Shares of Shyam Telecom were locked at 20 percent upper circuit on Friday after Sistema Shyam Teleservices (SSTL), which provides telecom services under MTS brand in India, received unified telecom licence valid for 20 years. Telecom equipment manufacturer Shyam Telecom is a part of Shyam Group. Shyam Group has 24 percent shareholding in Sistema Shyam Teleservices while Sistema JSFC holds 56.68 percent stake and Russian Federation 17.14 percent stake, as per shareholding data available on MTS website. Russian conglomerate, Sistema controlled SSTL, today said it has received a unified licence from the Government, which allows the liberal use of telecom technologies for providing the latest services. The company has become "the first telecom operator in the country to be a part of the unified licensing regime". The company has a permit to operate in nine circles but its unified licences are valid for eight service areas - Delhi, Gujarat, Karnataka, Kerala, Kolkata, Tamil Nadu, UP (West) and West Bengal. Rajasthan is another service area where SSTL has operations but is being run under the old telecom licence called the Unified Access Services Licences. Shyam Telecom stock closed at Rs 24.90, up 20 percent amid hefty volumes on the Bombay Stock Exchange. With inputs from PTI (Posted by Sunil Shankar Matkar)