Vodafone Idea share price declined 6 percent and Bharti Airtel moved up a percent in the morning trade on March 5, a day after the Department of Telecommunications (DoT) sent fresh notices to telecom operators on pending adjusted gross revenue (AGR) dues.
Vodafone Idea, Bharti Airtel and Tata Teleservices were asked to clear AGR dues immediately.
Part payments would not be considered as compliance of the Supreme Court order, the notices said, asking the telecom operators to pay the outstanding amount at the earliest.
It also asked Bharti Airtel and Vodafone Idea to furnish the documents supporting the due assessments made by them. Telcos are likely to submit self-assessment documents to the department during the week.
The companies believe that the full payment based on DoT-assessed amount is unfair. They are studying the order and will respond to the department at the earliest, sources said.
On March 3, Bharti Airtel had paid Rs 1,950 crore, Reliance Jio Rs 1,053 crore and Vodafone Idea around Rs 3,043 crore to the telecom department towards its deferred spectrum dues, sources said.
At 0933 hours, Vodafone Idea was quoting at Rs 3.42, down Rs 0.17, or 4.74 percent, and Bharti Airtel was quoting at Rs 523.00, up Rs 6.30, or 1.22 percent, on the BSE.
For Quick Trial – 8871888787
or mail us here - support@researchicon.com
or visit - http://www.researchicon.com
Post a Comment