Telecom shares fall on govt demand for additional revenue sharing
Reliance Communications, Idea Cellular and Bharti Airtel are down 4% -7% on BSE.
Shares of mobile phone companies are under pressure on the bourses in late morning deals on reports that the government has demanding additional revenue share for spectrum usage.
“The Department of Telecommunication (DoT) has issued fresh notices to three operators, Vodafone India, Bharti Airtel and Reliance Communications, demanding they pay an additional revenue share for spectrum usage since 2008,” the Economic Times report suggest.
The similar notices will be issued to other operators over the next few days, the report said, quoting DoT officials.
Among the individual stocks, Reliance Communications has tanked 7% to Rs 65 on the Bombay Stock Exchange, followed by Idea Celluar (down 4.5% at Rs 105) and Bharti Airtel (down 4% at Rs 330) at 1100 hours.
“The Department of Telecommunication (DoT) has issued fresh notices to three operators, Vodafone India, Bharti Airtel and Reliance Communications, demanding they pay an additional revenue share for spectrum usage since 2008,” the Economic Times report suggest.
The similar notices will be issued to other operators over the next few days, the report said, quoting DoT officials.
Among the individual stocks, Reliance Communications has tanked 7% to Rs 65 on the Bombay Stock Exchange, followed by Idea Celluar (down 4.5% at Rs 105) and Bharti Airtel (down 4% at Rs 330) at 1100 hours.