Telecom stocks rise: In Budget 2022, Finance Minister Nirmala Sitharaman has said that 5G spectrum auctions will be conducted in 2022 and commercial 5G services can start by 2023.
The Finance Minister has also said that to promote rural high-speed internet, new contracts will be awarded for the creation of rural optical fiber network under BharatNet in 2022 and the aim will be that the rural fiberization program of BharatNet will be completed by 2025.
After this announcement, communication equipment and technology companies such as Indus Towers Limited, Sterlite Technologies Limited, HFCL Limited, and Tejas Networks Limited have seen a rise.
In which Indus Towers Limited has seen a rise of 1.8%, Sterlite Technologies Limited and Tejas Networks Limited more than 2.7%, and HFCL Limited has seen a rise of 6.9%.
This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.