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Vodafone Idea, Airtel shares fall after SC reserves order on AGR dues

Vodafone Idea stock price opened at Rs 8.99 today and later fell to the intraday low of Rs 8.15, down 9.8% against the previous close of Rs 9.04 on BSE.

Tata Teleservices shares were trading 0.3% lower at Rs 3.61 today. Meanwhile, BSE telecom index was down 1.85% at 1,301 Tata Teleservices shares were trading 0.3% lower at Rs 3.61 today. Meanwhile, BSE telecom index was down 1.85% at 1,301

Shares of telecom service providers Vodafone Idea and Bharti Airtel were trading lower in an otherwise bullish market on Tuesday after the Supreme Court on Monday reserved its order on a petition related to allowing telcos to make staggered payments of adjusted gross revenue (AGR) over 20-years.

Vodafone Idea stock price opened at Rs 8.99 today and later fell to the intraday low of Rs 8.15, down 9.8% against the previous close of Rs 9.04 on BSE.

The stock has lost 10% in one week, 8% in one month and 23% in one year. Vodafone shares trade higher than 100 and 200 day but lower than 5, 20 and 50-day moving averages.

Similarly, Airtel shares were trading 1.6% lower at Rs 566.45 against earlier close of Rs 575.57 on BSE. Bharti Airtel stock price has fallen 3.44% in one week and 0.45% in one month. Both Vodafone Idea and Bharti Airtel stocks have fallen after 2 days of consecutive gain.

Tata Teleservices shares were trading 0.3% lower at Rs 3.61 today. Meanwhile, BSE telecom index was down 1.85% at 1,301.

A three-judge bench of Justices Arun Mishra, S Abdul Nazeer and Mr Shah are hearing the case. Earlier, DoT (department of telecom) had sought the SC's approval to ask telcos to pay their Rs 1.69-lakh crore dues over 20 years.While Vodafone shares ended 8.08% lower at Rs 8.31 on BSE, Bharti Airtel ended 1.39% lower at Rs 567.75. Tata Teleservices, on the other hand, closed flat at Rs 3.66.

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