Telecom stocks gained as much as 4 per cent in morning trade after the Cabinet approved relief measures for the financially stressed sector.

The Cabinet yesterday allowed telcos to pay for spectrum over 16 years instead of 10 years and permitted them to hold more airwaves.

It also relaxed caps on holding spectrum, helping ongoing mergers like that between Vodafone and Idea as the combined entity would have breached the current limits in certain circles or telecom zones.

Reacting to the development, shares of Bharti Airtel spurted 2.62 per cent

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