Telecom majors Reliance Communication and Idea Cellular gained Tuesday after the Union Cabinet, chaired by the Prime Minister Narendra Modi, has approved the proposal of the department of telecom to proceed with auction in 800, 900 & 1800 MHz bands.

The Reserve price approved is Rs 36.46 billion pan-India per MHZ in 800 MHz, Rs 39.8 billion for 900 MHz band pan India excluding Delhi,  Mumbai, Kolkatta,  and J&K;  Rs 21.91 billion pan India (excluding Maharashtra and West Bengal) in 1800 MHz band

The quantum of spectrum to be put to auction is 103.75 MHz in 800 MHz band in all service areas, 177.8 MHz   in 17 LSAs in 900 MHz band  and 99.2 MHz in 15 LSAs in 1800 MHz band. Thus a total of 380.75 MHz in 800,900 & 1800 MHz is being put to auction.

Shares of Reliance Communication gained the most with rise of 0.12% followed by Idea Cellular (0.6%) on Tuesday at 10.02 am.