"The top three telcos, including market leader Bharti Airtel, have increased their combined revenue market share to 73 percent... their ability to trade spectrum may curtail excessive bidding in future spectrum auctions," Fitch said on Thursday.
Rajan Mathews, director general, Cellular Operators Association of India (COAI), says that the current pricing of 900 MHz of spectrum is completely out of line and secondly, the legal issues with regards to refarming of 900 MHz should also be sorted out.
Technical analyst Sudarshan Sukhani of s2analytics.com sees Nifty heading towards 5,800 level. He recommends shorter term traders to go long. "Intermediate traders can book profits in 5,800-5,900," he told CNBC-TV18.