Bharti Airtel rises 2% on new spectrum usage fee

Bharti Airtel, India’s largest telecoms network operator, rises 2% Wednesday morning.

Company’s stock was a top percentage gainer on the NSE index.

This after a new formula approved by the Telecom Commission, in which the spectrum usage fee for all the airwaves owned by Bharti Airtel will fall to 3.74% from 4.9% of revenue currently.

Telecom Commission has also set the spectrum usage fee to 3% of revenue for new spectrum that will be auctioned later this year.