Idea, Airtel down up to 4% as TRAI asks DoT to impose fine

Shares of Idea Cellular and Bharti Airtel fell by up to 4 per cent today after sector regulator TRAI suggested imposing Rs 3,050 crore penalty on the two firms along with Vodafone for allegedly denying interconnectivity to newcomer Reliance Jio.
The scrip of Idea declined by 3.75 per cent to end at Rs 77 on BSE. During the day, it dipped 4.56 per cent to Rs 76.35.
Shares of Bharti Airtel fell by 0.94 per cent to Rs 306.50. Intra-day, it lost 1.77 per cent to Rs 303.90.
TRAI, in its recommendation to the Department of Telecom, said it has found the trio to be non-compliant with licence conditions and service quality norms given the high rate of call failures and congestion at interconnect points for RJio.

In the stock market, the BSE benchmark Sensex ended at 28,179.08, up 101.90 points or 0.36 per cent.