Stocks

AGR verdict impact: Bharti Airtel, RCom surge; Vodafone Idea sinks 8%

| Updated on September 01, 2020 Published on September 01, 2020

Shares of telecom companies, such as RCom and Bharti Airtel, rose on Tuesday after the Supreme Court granted telecom companies such as Vodafone Idea, Bharti Airtel and Tata Teleservices 10 years for paying their adjusted gross revenue (AGR) related dues.

However, it also ordered that they should pay 10 per cent of the dues by March 31, 2021.

Shares of Bharti Airtel and RCom reacted positively to the verdict. The shares of Bharti Airtel jumped nearly 5 per cent to Rs 537.70 and RCom shares were up 5 per cent to Rs 2.53 on the BSE today at 12.50 pm.

However, other stocks such as Vodafone Idea, OnMobile, GTL Infra, Vindhya Telelink and ITI fell sharply. Vodafone Idea fell nearly 9 per cent to Rs 9.33 and On Mobile was down 5 per cent to Rs 35.40 on the BSE.

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Published on September 01, 2020
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