Bharti Airtel dips ahead of Delhi HC hearing on DoT notice
The DoT asked the telecom operator Bharti Airtel to stop 3G services within three days in the seven circles.
Bharti Airtel is trading lower by 2.4% at Rs 304,extending its Friday's 1.3% fall, ahead of the Delhi High Court (HC) decision on notice issued by the Department of Telecommunications (DoT) to the company to stop 3G services in seven circles.
The DoT on Friday asked the telecom operator Bharti Airtel to stop 3G services within three days in the seven circles in which the company does not have the required license.
“The company has also been asked to pay a penalty of Rs 50 crore per circle, Rs 350 crore in all,” the Business Standard reports suggested.
Bharti Airtel had filed a petition against the decision in the Delhi High Court. The hearing is scheduled today.
The stock opened at Rs 305 and hit a low of Rs 302 on NSE. A combined 568,000 shares have changed hands on the counter so far on NSE and BSE.
The DoT on Friday asked the telecom operator Bharti Airtel to stop 3G services within three days in the seven circles in which the company does not have the required license.
“The company has also been asked to pay a penalty of Rs 50 crore per circle, Rs 350 crore in all,” the Business Standard reports suggested.
Bharti Airtel had filed a petition against the decision in the Delhi High Court. The hearing is scheduled today.
The stock opened at Rs 305 and hit a low of Rs 302 on NSE. A combined 568,000 shares have changed hands on the counter so far on NSE and BSE.