Vodafone Idea & Airtel likely to decline by 8%:
To begin with, after the Supreme Court judgment, the telephone companies Vodafone Idea, Airtel shares alter gain. On Jan 23, Vodafone Idea and Airtel repay the AGR’s loan amount completely.
Moreover, the apex court permitted the telcos to repay their loans by March 17, 2020. The telcos appeal to extend the time to repay the AGR dues to court, in that section, the court declared, it will take action on who obey their instructions.
Also, the telecom company doesn’t deposit a single rupee it has noticed by the justice Arun Mishra. Furthermore, 15 telcos required to pay around Rs 1.47 lakh cr to the government of India. Which includes, license fees, spectrum charges, interest along with dues.
The Vodafone Idea share value declined to Rs 4.15 and the Bharathi Infratel share value declined to Rs 4.28 with a loss of 7.37%. Similarly, Reliance Communications declined by 4.11% and reached to Rs 0.70 per eq share.
Top losers in today’s stock market, the Aksh Optifiber listed with 3.885 loss, GTL Infrastructure with 2.63% loss, Optiemus Infracom declined by 1.1%. Sterlite Technologies declined by 0.39%, Bharti Airtel listed with 0.28% loss and GTPL Hathway with 022%.
Moreover, top losers in bank shares, Nifty Bank with 1.07% loss and listed at 30,776 points, Indusland Bank with 2.19% loss and Rs 1,203 per share. Also, IDFC First Bank declined by 1.71% reached at Rs 40.20