Telecom stocks mixed after Supreme Court accepts fresh pleas on statutory dues

PTI New Delhi | Updated on January 21, 2020

Prashant Nakwe

Shares of the telecom players traded mixed on Tuesday after the Supreme Court agreed to list next week the 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, the Bharti Airtel stock was trading marginally lower by 0.15 per cent at Rs 508.50 on the BSE. On the NSE, the scrip lost 0.07 per cent to trade at Rs 508.35.

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

Meanwhile, the 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 a fresh schedule of payment of their dues.

Published on January 21, 2020

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