The shares of telecom stocks have received a plunge as the Telecom Ministry is planning to issue a show-cause notice to five operators for reporting under performance and revenue. The operators who have become the subject of Ministries scrutiny include Tata, Vodafone, RCom, Bharti and Idea.

While the news of Reliance MediaWorks, a company promoted by the Anil Ambani picking up a stake in Inox made a lot of noise but the company has said that it is not in not in talks to buy a controlling stake in cinema chain operator.

With the board of Reliance Communications Ltd, the second-largest wireless carrier in India, approving the sale of up to 26 percent stake at a premium to its existing market price to strategic or private equity investors, the shares of the company rose by almost 6.2 percent in Mumbai.