Business Companies 18 Mar 2020 Vodafone Idea shares ...

Vodafone Idea shares crack over 40 pc

PTI
Published Mar 18, 2020, 1:53 pm IST
Updated Mar 18, 2020, 1:53 pm IST
Supreme Court on wednesday pulled up the Centre and telecom companies for doing reassessment of the Adjusted Gross Revenue dues
Representative Image (PTI)
 Representative Image (PTI)

New Delhi: Telecom shares came crashing on Wednesday, led by Vodafone Idea which plunged 40 per cent, after the Supreme Court pulled up the Centre and telcos for doing self-assessment or reassessment of the AGR dues fixed by the apex court.  

Vodafone Idea plunged 40 per cent to Rs 2.91 and Bharti Airtel declined 5 per cent to Rs 431.25 on the BSE.

 

Both the companies erased their early gains and were trading with losses.

The supreme court on wednesday pulled up the centre and telecom companies for doing self-assessment or reassessment of the Adjusted Gross Revenue (AGR) dues fixed by the apex court in its verdict given on october 24 last year.

The apex court, which was also anguished by frequently published newspaper articles on the AGR issue, said all managing directors of telecom companies will be personally responsible and will be held for contempt of court for any such future newspaper articles

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT