Left Menu
Development News Edition

Vodafone Idea stock plunges by 12 pc after new SC order

The share price of telecom major Vodafone Idea fell by over 12 per cent intraday on Friday after the Supreme Court rejected the telcos' plea seeking new schedule of adjusted gross revenues (AGRs) payments.

ANI | Mumbai (Maharashtra) | Updated: 14-02-2020 12:17 IST | Created: 14-02-2020 12:17 IST
Vodafone Idea stock plunges by 12 pc after new SC order
The company has reported a loss of Rs 6,439 crore in Q3 FY20. Image Credit: ANI

The share price of telecom major Vodafone Idea fell by over 12 per cent intraday on Friday after the Supreme Court rejected the telcos' plea seeking new schedule of adjusted gross revenues (AGRs) payments. Vodafone Idea, Bharti Airtel and Tata Teleservices had filed modification applications on the time schedule to make payments of over Rs one lakh crore which they owe to the Department of Telecommunications (DoT) as AGRs.

The apex court asked telecom operators to explain why these dues were not deposited despite its orders, and why contempt action must not be taken against them for non-compliance of the order. A day earlier, Vodafone Idea had reported a consolidated loss of Rs 6,439 crore for the October to December quarter (Q3 FY20).

At 12 noon on Friday, its stock was trading 12.5 per cent lower at Rs 3.92 against the previous close of Rs 4.48. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

China: A savior for emerging markets or a poison pill?

... ...

Future of Urban Planning: Artificial Intelligence guiding the way

Advances in emerging technologies like Artificial Intelligence and Machine Learning can help us understand our cities better and derive useful insights from real-time data collected through automated models....

Videos

Latest News

Entertainment News Roundup: James Bond movie delayed again; Chinese government film marks year since Wuhan lockdown and more

Following is a summary of current entertainment news briefs.James Bond movie No Time to Die delayed again amid pandemicThe global release of the James Bond movie No Time to Die was postponed to October from April, its producers said, anothe...

Rahul slams govt over rise in fuel prices

Congress leader Rahul Gandhi on Sunday attacked the Centre over rise in fuel prices, saying people are suffering due to inflation, while the Modi government is busy in tax collection.The former Congress chiefs attack came a day after petrol...

Sports News Roundup: Korda cards LPGA's fifth-ever 60 round; Baseball's Hank Aaron dies at 86 and more

Following is a summary of current sports news briefs.Korda cards LPGAs fifth-ever 60 round at Tournament of ChampionsJessica Korda etched her name into the record books on Saturday, carding an 11-under par 60 in the third round of the Tourn...

Health News Roundup: More data needed on UK COVID-19 variant; UK vaccination rate hits record daily high and more

Following is a summary of current health news briefs.U.S. health officials More data needed on UK COVID-19 variant warningThe United States is closely watching the more infectious variant of COVID-19 after British officials warned that it m...

Give Feedback