Business Standard

Telecom stocks in focus: Voda Idea hits record low, Bharti Airtel dips 1%

In another development, Reliance Jio on Wednesday attacked incumbent operators, saying it disagreed with "the threatening and blackmailing tone" of the COAI's letter against the SC's judgement on AGR



SI Reporter New Delhi
Telecom majors Vodafone Idea and Bharti Airtel were under pressure, slipping up to 9 per cent in the morning deals on the BSE on Thursday, after rating agencies underlined concerns emerging from the Supreme Court's ruling in the adjusted gross revenue (AGR) case. 

Individually, Vodafone Idea hit a fresh all-time low of Rs 3.48 apiece, down 8.6 per cent in the intra-day deals, after rating agency CARE downgraded its long-term loans and debentures ratings from “A” to “A-”. The agency also placed the rating "under watch with negative implications". The stock breached its previous low of Rs 3.66 touched on October

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First Published: Oct 31 2019 | 10:40 AM IST

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