Bharti Airtel, Idea Cellular gain post Supreme Court order
The court asked the telecom regulator not to take any action on the Bharti Airtel on 3G roaming pact till Thursday.
Shares of Bharti Airtel and Idea Cellular have up to 6% after the Supreme Court allows the third-generation (3G) roaming pact till April 11.
Bharti Airtel has surged 5% to Rs 285 on the Bombay Stock Exchange (BSE). Idea Cellular is trading higher by 4% to Rs 107, bouncing back over 6% from intra-day low of Rs 101.
The Department of Telecommunications (DoT) on March 15 had issued a notification restraining Bharti from providing 3G intra-circle roaming facilities in seven circles where it did not have the spectrum and also levied a penalty of Rs 350 crore (Rs 50 crore per circle) for violating the licence terms and conditions.
The court asked the DoT not to take any action on the telco till Thursday.
Bharti Airtel has surged 5% to Rs 285 on the Bombay Stock Exchange (BSE). Idea Cellular is trading higher by 4% to Rs 107, bouncing back over 6% from intra-day low of Rs 101.
The Department of Telecommunications (DoT) on March 15 had issued a notification restraining Bharti from providing 3G intra-circle roaming facilities in seven circles where it did not have the spectrum and also levied a penalty of Rs 350 crore (Rs 50 crore per circle) for violating the licence terms and conditions.
The court asked the DoT not to take any action on the telco till Thursday.