Airtel, Vodafone Idea Share Price Dips 3-15% as DoT asks Telcos to Clear AGR Dues

Airtel, Vodafone Idea share price dips 3-15% as DoT asks telcos to clear AGR dues.

 

TELECOM

Shares of Airtel, Vodafone Idea dips as DoT asks telcos to clear AGR dues.

Downhill: Shares of operators Airtel and Vodafone Idea today were down 3-15% as the Department of Telecommunications asked telecom operators to begin self-assessment of their respective dues as per the recent Supreme Court ruling on the issue of Adjusted Gross Revenue (AGR) and pay up accordingly. Livemint

 

 

On 24 October, the SC had directed operators to pay at least INR92,000cr in past dues to the government within three months. Bharti Airtel's dues are roughly around INR21,682cr, while Vodafone Idea has over INR28,309cr pending dues. Reliance Jio Infocomm’s dues stands at INR13cr. 

 

Airtel share price was down over 3% intraday today before closing at INR365.60 (0.81%). Vodafone Idea share price plunged over 16% before closing at INR3 (-18.92%). Moneycontrol

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