The Union Cabinet, chaired by the Prime Minister Narendra Modi, on Wednesday approved a number of structural and process reforms in the Telecom sector. These are expected to protect and generate employment opportunities, promote healthy competition, protect interests of consumers, infuse liquidity, encourage investment and reduce regulatory burden on Telecom Service Providers
The surge comes a day after the Union Government announced a slew of reforms for telecommunication sector including a four-year moratorium on payment of dues and allowing 100 percent FDI in the sector
Equity benchmark Sensex jumped over 150 points in early trade to scale a fresh lifetime high of 58,875.78 on Thursday, tracking gains in index majors Bharti Airtel, Tata Steel and HCL Tech. The broader NSE Nifty too surged more than 50 points to reach its new peak in the opening session. The 30-share Sensex was trading 152.58 points or 0.26 per cent higher at 58,875.78.