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

All that happened in the markets today

1:27 PM

AGR Case | We thought we were required to raise demands, so we went ahead, SG to SC

>> DoT officers feared behind targeted if they had not raised demands.

>> PSUs were license holders is our justification 

 

>> Will file necessary affidavits to explain our position.

(Source: CNBC TV18)

1:26 PM

AGR Case | Demand against PSUs is impermissible , says Justice Mishra

>> Asks, how can DOT raise such unnecessary demands.

 

>> Demands to the tune of 4 lakh crores being raised with ulterior motives.

(Source: CNBC TV18)

1:20 PM

STOCK ALERT :: Vodafone Idea turns positive

1:17 PM

AGR Case | Nature of the agreement with PSUs was such that Bill's had to be raised: SG to SC

>> Since they had also taken license, demands were issued.

>> Most PSUs hold licenses with are different from telecom service providers. 

 

>> Bills that we have raised come up to Rs 4.28 lakh crores.

(Source: CNBC TV18)

1:13 PM

AGR Case | Our judgement was silent on dues for PSUs, says Justice Mishra

>> Says, there was no issue with them

>> Asks Centre, how could the demand be raised if we didn't comment on them?

>> Supreme Court observes, demand against PSUs must be withdrawn

(As reported by CNBC TV18)

1:10 PM

AGR Case | Solicitor General tells SC, telcos must provide some security to satisfy the court

Supreme Court observes, how many years is govt proposing on the payment of AGR?  What is the guarantee that telcos will pay as per timeframe? What is the security that telcos are ready to furnish? Are telcos willing to submit personal guarantees by directors?

(Source: CNBC-TV18)

1:09 PM

AGR Case | Solicitor General tells the SC that limited porting capacities will hurt crores of customers of telcos: CNBC TV18

>> Will impact quality of service, migration of crores of customers will not be seamless: SG to SC

1:08 PM

AGR Case | Justice Mishra asks about the time-frame for staggered payment, reports CNBC TV18

>> Asks about the time frame the govt is proposing

>> Asks telcos if they would be willing to give personal guarantee

12:59 PM

AGR Case | Justice Arun Mishra-led bench assembles for the hearing: CNBC TV18

12:58 PM

Nifty Bank down 1.5% ahead of AGR hearing

12:55 PM

Here's how you can identify and avoid 'bull traps' while trading

A 'bull trap' is a classic case of a false breakout. In general, buyers enter a trade with strong conviction of an upside. However, at times, the stock fails to deliver the upward move and instead hits the trader's stop loss or support levels. READ MORE 

12:49 PM

Ahead of AGR Hearing :: How much do telcos owe?

Bharti Airtel

Bharti Airtel's total due is at Rs 43,980 crore. The company has paid Rs 18,004 crore so far; balance to be paid is Rs 25,976 crore.

Vodafone Idea

Vodafone Idea's dues are at Rs 58,254 crore. The company has paid Rs 6,354 crore; balance left Rs 51,400 crore.

Tata Group

Tata Grp due's for TTSL are pegged at Rs 16,798 Cr. It has paid Rs 4,197 crore; balance is Rs 12,601 crore

12:39 PM

Ahead of AGR Verdict :: Vodafone Idea down 6%

12:35 PM

Shankara Building Products surges 20% on good operational performance in Q4

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter rose 74.3 per cent year-on-year (YoY) to Rs 27.1 crore from Rs 15.5 crore in previous year quarter. EBITDA margin improved 146 basis points (bps) to 4.06 per cent from 2.60 per cent during the quarter. Total income from operations grew 11.6 per cent at Rs 667 crore on YoY basis. READ MORE

12:27 PM

MARKET CHECK :: Indices extend decline; Sensex down 400 pts