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Vodafone Idea shares crack 20%
Shares of Vodafone Idea nosedived over 20 per cent on Thursday amid reports that the DoT has issued notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court.
New Delhi: Shares of Vodafone Idea nosedived over 20 per cent on Thursday amid reports that the DoT has issued notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court.
Vodafone Idea plunged 20.27 per cent to close at Rs 2.95 on the BSE. During the day, it tanked 21.62 per cent to its record low of Rs 2.90.
The company's market valuation declined Rs 2,155.06 crore to Rs 8,476.94 crore on the BSE. Shares of Bharti Airtel also fell 1.59 per cent to close at Rs 362.65.
The Department of Telecommunications (DoT) has issued notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court, according to an industry source.
The DoT has given option to telecom operators to clear all the dues on self-assessment basis.
The Supreme Court in its last month's ruling said, "We give three months' time to deposit the amount, which is due, and compliance be reported."
