The BSE Telecom index gained 1% at 1,193.92 in the morning trade. According to the media reports, Bharti Airtel and Vodafone Idea have moved the Supreme Court in a bid to delay payments that are due Thursday.
The operators want to be allowed to negotiate conditions and schedules for payment of statutory dues with the Department of Telecommunications (DoT), the media reports added.
Further, the media statement added that Vodafone Idea, along with some 14 telcos, need to pay about Rs1.47 lakh cr to the telecom department by a Supreme Court-mandated deadline of January 23.
Shares of Vodafone Idea zoomed over 15%, followed by Bharti Infratel, which rallied 6%, on the other hand, Bharti Airtel slipped marginally.
Tejas Networks stock gained over 2% ahead of its Q3 result today. Optiemus Infracom, Onmobile and GTL Infra are also up in the telecom index.
Meanwhile, the stock market pared losses and is currently trading flat. The Sensex is down with 41 points and the Nifty is down with marginal losses at 12,217.
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