Telecom companies’ share price gained on Tuesday’s trading session amidst the volatile market. The rise comes after media reported that Vodafone Idea Limited and Bharti Airtel Limited have moved the Apex Court in a bid to delay payments that are due Thursday.
The Supreme Court yesterday agreed to list next week the new appeals of telecom companies, including Vodafone Idea, Bharti Airtel, and Tata Tele-services, seeking a new schedule of payment of statutory dues of about Rs.1.47-Lakh-Cr to the DoT.
During the afternoon session, shares in Vodafone Idea surged 18.59 percent to Rs.5.80-apiece on the NSE and gained 89.93 percent to Rs 5.78 on the BSE. Get top Stock Tips and free trading tips in our official website.
Then again, the Bharti Airtel stock was trading marginally higher by 0.86 percent at Rs.513.05 on the NSE. On the BSE, the scrip rose 0.75 percent to trade at Rs 513.05.
The Tata Teleservices(Maharashtra)stock was trading 1.92 percent higher at Rs2.65 on the NSE and BSE, it stood unchanged at 2.62-apiece.
Meanwhile, the shares of Reliance Industries, the parent company of Reliance-Jio-Infocomm Ltd, were trading with gains of 0.41 percent at Rs.1,538.60 on the NSE.
Meanwhile, the stock market continues volatile with the Sensex down by 128-pts and the Nifty slipped by 37-pts at 12,190 at 2.50-pm.