Voda Idea, Tata Tele slump as SC rejects AGR plea, Bharti Airtel rebounds after initial fall

New Delhi: Shares of Telecom Services providers plunged as much as 15 per cent on Friday as the Supreme Court junked the telecom companies’ plea on adjusted gross revenue (AGR) dues. However, as the dust settled, Airtel revived and even Vodafone Idea NSE -9.73 % recovered some of the losses.

The telecom companies had sought rectification in the calculation of AGR dues. The apex court has ordered the telecom service providers to abide by the calculation of the Department of Telecom (DoT).