 "Telecom shares under pressure; Bharti Airtel, Idea Cellular, RCom down over 5%")
Shares of telecom service providers such as Bharti Airtel, Reliance Communications (RCom) and Idea Cellular were under pressure falling up to 9% on the bourses in intra-day trade as the Telecom Regulatory Authority of India (Trai) asks telcos to start compensating for call drops.
Among individual stocks, Reliance Communications has dipped 9% to Rs 82.35 on the BSE. The stock rallied 40% in past one-and-half months as compared to 3% gain in the S&P BSE Sensex till yesterday.
Bharti Airtel and Idea Cellular have dipped 6% each to Rs 321 and Rs 135 respectively. Both these stocks are current trading near their 52-week lows of Rs 304 and Rs 124, respectively, on the BSE.
The Trai has written to operators to ensure compliance with call drop regulations, effective January 1, even as service providers remain defiant and say compensation to subscribers will be paid only after court orders them to do so, the PTI reports suggests. CLICK HERE TO READ FULL REPORT.
Among individual stocks, Reliance Communications has dipped 9% to Rs 82.35 on the BSE. The stock rallied 40% in past one-and-half months as compared to 3% gain in the S&P BSE Sensex till yesterday.
Bharti Airtel and Idea Cellular have dipped 6% each to Rs 321 and Rs 135 respectively. Both these stocks are current trading near their 52-week lows of Rs 304 and Rs 124, respectively, on the BSE.
The Trai has written to operators to ensure compliance with call drop regulations, effective January 1, even as service providers remain defiant and say compensation to subscribers will be paid only after court orders them to do so, the PTI reports suggests. CLICK HERE TO READ FULL REPORT.