Bharti Airtel surges 5%, hits new high after SC rejects telcos’ plea

Elvera Bartels

Shares of Bharti Airtel jumped five per cent to a fresh new lifetime substantial of Rs 565 on the BSE on Friday as investors bet on a probable duopoly in the Indian telephony current market after the Supreme Courtroom currently turned down the telcos’ assessment plea on modified gross revenues (AGR) payments.

In a big setback for the telecom providers, the Supreme Courtroom turned down the plea in search of new timetable of AGR payments. Coming down closely on the Division of Telecommunications (DoT) for not taking coercive motion from telcos for failing to repay, the apex courtroom ordered contempt proceedings from Bharti Airtel and Vodafone Strategy. Click Here TO Examine THE Entire REPORT

The inventory of the telecom services supplier bounced back six per cent from its intra-working day reduced of Rs 535 on the BSE. It surpassed its earlier substantial of Rs 552.eighty five, touched February six, 2020.

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