New Delhi: Shares of Telecom Services providers plunged as much as 10 per cent on Friday as the Supreme Court junked the plea by telecom companies on adjusted gross revenue (AGR) dues.
The judgement was pronounced on the telecom companies' plea seeking rectification in the calculation of AGR dues. The apex court has ordered the telecom service providers to abide by the calculation of Department of Telecom (DoT).
Following the update, Shares of beleaguered hit the lower circuit, declining 10 per cent to 8.33 on Friday, whereas slumped 5 per cent Rs 37.65. slipped up to 3 per cent to Rs 532.85, before going 1.35 per cent up to Rs 553.40.
The bench of justice LN Rao and Hrishikesh Roy quashed the pleas by telecom companies -Bharti Airtel, Vodafone Idea and Tata Teleservices which claimed calculation errors in AGR demand
On July 19, the top court heard pleas from the three telecom companies seeking a correction of an error in the AGR dues. The SC had reserved the order.
The judgement was pronounced on the telecom companies' plea seeking rectification in the calculation of AGR dues. The apex court has ordered the telecom service providers to abide by the calculation of Department of Telecom (DoT).
Following the update, Shares of beleaguered hit the lower circuit, declining 10 per cent to 8.33 on Friday, whereas slumped 5 per cent Rs 37.65. slipped up to 3 per cent to Rs 532.85, before going 1.35 per cent up to Rs 553.40.
Did you Know?
Stock score of Tata Teleservices (Maharashtra) Ltd moved up by 4 in 3 months on a 10-point scale.
View Latest Stock Report »The bench of justice LN Rao and Hrishikesh Roy quashed the pleas by telecom companies -Bharti Airtel, Vodafone Idea and Tata Teleservices which claimed calculation errors in AGR demand
On July 19, the top court heard pleas from the three telecom companies seeking a correction of an error in the AGR dues. The SC had reserved the order.
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