Telecom woes continue to hog the limelight after the Supreme court gave a historic ruling, asking the government to re-auction the 2G spectrum. In the latest development, the Russian company, ‘Sistema’ has now invoked an arbitration clause, by writing a letter to the Govt. of India. The arbitration is based on the Indo-Russian treaty. As per this, post 6 months, if there is no settlement, then the usual arbitration process would follow. The act allows claim on expropriation of investments.
Back with the markets, it was a small pullback on Tuesday, after yesterday’s slides seen in the market.
Realty stocks were among the top gainers. The BSE realty index was up by 6%. DLF stock was up by over 4% in the trade.