Telecom stocks mixed after SC accepts fresh pleas on statutory dues

Image
Press Trust of India New Delhi
Last Updated : Jan 21 2020 | 11:50 AM IST

Shares of telcos' on Tuesday were trading mixed after the SC agreed to list next week telecom firms' fresh pleas, seeking a fresh schedule of payment of statutory dues to the DoT.

Shares of Vodafone Idea jumped almost 18 per cent to Rs 5.73 on the BSE and gained 19.5 per cent to Rs 5.80 on the NSE.

On the other hand, Bharti Airtel stock was trading marginally lower by 0.15 per cent to Rs 508.50 on the BSE.

On the NSE, the scrip lost 0.07 per cent to trade at Rs 508.35.

Tata Teleservices (Maharashrta) stock was trading 0.76 per cent lower at Rs 2.60 on the BSE and and 1.92 per cent up at Rs 2.65 on the NSE.

Meanwhile, shares of Reliance Industries, the parent firm of Reliance Jio Infocomm Ltd, was trading with gains of 0.34 per cent at Rs 1,537.25 on the BSE.

The Supreme Court on Tuesday agreed to list next week the fresh pleas of telecom firms, including Bharti Airtel, Vodafone Idea and Tata Teleservices, seeking a fresh schedule of payment of statutory dues to the tune of Rs 1.47 lakh crore to the Department of Telecommunications.

The telcos said they wanted an open court hearing on their fresh pleas with regard to working out fresh schedule of payment of their dues.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*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

More From This Section

First Published: Jan 21 2020 | 11:50 AM IST

Next Story