MARKET WRAP: Sensex slumps 709 pts on global sell-off; Voda Idea slips 13%

All that happened in the markets today

2:32 PM

Telcos mixed, PSUs gain as SC observes AGR demand on PSUs be withdrawn

Shares of select public sector undertaking (PSU) companies Gujarat Narmada Valley Fertilisers & Chemicals, Oil India and Gail (India) were up between 5 per cent and 6 per cent on the BSE in intra-day trade after the Supreme Court today asked department of telecommunications (DoT) to withdraw its demands of payments from these companies. These PSUs had been asked to pay their licence fee and spectrum usage charge dues, not only on telecom-related revenues but on total revenues as per the October 24 Supreme Court order. READ MORE 

2:25 PM

MARKET CHECK

2:12 PM

Rupee Closing

Rupee ends weaker at 75.78 per US dollar vs Wednesday's close of 75.58/$

2:11 PM

MARKET UPDATE :: Sensex at 33,712 level, down 535 points

2:05 PM

Nifty Bank index dips 2%; SBI, Axis Bank, IDFC First decline 3% each

2:02 PM

MARKET CHECK :: Sensex at day's low

1:55 PM

AGR Case | Supreme Court to next hear the AGR case on June 18: CNBC TV18

1:50 PM

AGR Order | SC directs DoT to reconsider demands raised against PSUs

1:49 PM

AGR Order | Telcos are directed to file reply on road map of payment, time to be allowed, & securities

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)
VODAFONE IDEA	10.18	-0.64	-5.91
BHARTI AIRTEL	564.30	-2.95	-0.52
TEJAS NETWORKS	51.70	-2.70	-4.96

1:47 PM

AGR Order | DoT is directed to clarify raising of demands within 3 days of the order

>> Order says, Govt admits to difference in licences of PSUs & Telcos. Our judgment could not have been made the basis of launching demand against PSUs.

1:41 PM

AGR Case | Can't allow such staggered payout without securing govt dues, says Justice Mishra

(Source: CNBC TV18)

1:38 PM

AGR Case | Don't have enough money to issue Bank guarantee of Rs 50,000 cr: Voda Idea counsel to SC

(As reported by CNBC TV18)

1:37 PM

AGR Case | Are telcos ready to give bank guarantee, asks SC

>> Are directors prepared to issue personal guarantee?

 

>> Are other securities that can be furnished?

 

(Source: CNBC TV18)

1:35 PM

AGR Case | Biggest reassurance is that our license can be cancelled, argues Bharti Airtel's counsel

>> Have already paid Rs 18,000 cr, 70% of the Rs 25,600 cr received by DoT from all cos.

>> Will file detailed reply.

(Source: CNBC TV18) 

1:31 PM

AGR Case | Vodafone Idea slips again as Justice Mishra says can't allow extension based on a 'gentleman's promise'