 "Telecom shares trade mixed post SC verdict on call drop compensation")
Shares of telecom companies such as Bharti Airtel, Idea Cellular and Reliance Communications were trading mixed, erasing most of their early noon gains, after the Supreme Court on Wednesday struck down compensation policy for call drops levied by the Telecom Regulatory Authority of India (TRAI).
The operators had challenged the compensation of Rs 1 for every call drop, limited to a maximum of three such calls per day. Following an adverse judgement against them in the High Court, telcos approached the Supreme Court which stuck it down today, calling the Trai order "arbitrary and unconstitutional" as well as "illegal and not transparent", the Business Standard report suggests.CLICK HERE TO READ FULL REPORT.
At 12:11 pm, Bharti Airtel was down 1% at Rs 366, falling 3% from its intra-day high. The stock bounced back almost 6% from its intra-day low of Rs 358 and hit high of Rs 378 after SC verdict.
Idea Cellular was trading flat at Rs 113, declining 3.4% from its intra-day high of Rs 117 on the BSE. The stock hit an intra-day low of Rs 110 before the verdict.
Reliance Communications however was trading marginally 0.45% higher at Rs 55.85. The stock hit high of Rs 57.35 and low of Rs 53.85 so far.
The operators had challenged the compensation of Rs 1 for every call drop, limited to a maximum of three such calls per day. Following an adverse judgement against them in the High Court, telcos approached the Supreme Court which stuck it down today, calling the Trai order "arbitrary and unconstitutional" as well as "illegal and not transparent", the Business Standard report suggests.CLICK HERE TO READ FULL REPORT.
At 12:11 pm, Bharti Airtel was down 1% at Rs 366, falling 3% from its intra-day high. The stock bounced back almost 6% from its intra-day low of Rs 358 and hit high of Rs 378 after SC verdict.
Idea Cellular was trading flat at Rs 113, declining 3.4% from its intra-day high of Rs 117 on the BSE. The stock hit an intra-day low of Rs 110 before the verdict.
Reliance Communications however was trading marginally 0.45% higher at Rs 55.85. The stock hit high of Rs 57.35 and low of Rs 53.85 so far.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%