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D-Street Buzz: Bharti Airtel, Vodafone Idea, Vindhya Telelink shares rise ahead of SC hearing in AGR case

The Indian stock market was trading in the green in the morning despite Asian markets remaining weak. The Sensex was up 35.32 points or 0.11 percent at 33,543.24, and the Nifty up 17.10 points or 0.17 percent at 9,898.25 at 1007 hours. The BSE Telecom index added half a percent, with stocks trading in the green ahead of the Supreme Court hearing in the adjusted gross revenue (AGR) matter. The case is being heard by a bench led by Justice Arun Mishra. Justices MR Shah and S Abdul Nazeer are the other members of the bench, which on March 18 held that “no further objections would be allowed against payable dues”. For Bharti Airtel, the AGR dues, as per DoT, are Rs 35,500 crore, whereas the company's self-assessment puts the figure at Rs 13,000 crore. So far, it has paid Rs 18,800 crore. As per DoT, it still has to pay Rs 17,500 crore. For Vodafone Idea, DoT claims that the remaining payable is Rs 53,000 crore while the company says it is Rs 21,500 crore. So far, the company has paid Rs 6,900 crore. As per DoT, it still has to pay Rs 46,100 crore. The court ordered telcos to clear dues of Rs 1.47 lakh crore in line with the telecom department's estimates. Shares of ITI surged almost 14 percent, with the stock witnessing spurt in volume by more than 6.96 times. It was trading with volumes of 620,562 shares, compared to its five-day average of 114,491 shares, an increase of 442.02 percent. The stock also hit 52-week high value of Rs 107.90 per share. Bharti Airtel and Vodafone Idea shares added over a percent each while Reliance Communications, Tejas Networks, Sterlite Tech and MTNL were the other gainers. Shares of Vodafone Idea were the most active stock on NSE, with 13,86,89,248 shares being traded. This was followed by GTL Infra where 1,13,81,367 shares were being traded. Vindhya Telelink share price surged 15 percent and was also the top BSE smallcap gainer. It witnessed a spurt in volume by more than 9.19 times and was trading with volumes of 13,985 shares, compared to its five-day average of 801 shares..reckoner_bx{ background-color: #F0F0F0; padding: 20px; font: 400 16px/22px 'Noto Serif',arial; border-radius: 5px; margin-bottom: 0px;}.reckoner_bx .rek_title{font: 700 18px/25px 'Fira Sans',arial; color: #0155A0; margin-bottom: 7px; text-transform: uppercase;}.reckoner_bx .btn_reck{border-radius: 20px; background-color: #135B9D; display: inline-block; font: 700 14px/19px 'Noto Serif',arial; padding: 8px 25px; color: #fff !important; text-decoration: none !important;}.reckoner_bx .rek_btnbx{ margin-top: 10px; }.reckoner_bx .bldcls{font-weight: bold;}Moneycontrol Ready ReckonerNow that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.Download a copy .icn_reck{fill:#fff;}Live Webinar: Moneycontrol Rule the New Normal, powered by Lenovo. Click Here. function loginSignupPost(id_form){ var user_id = getCookie("nnmc"); if(user_id!= "" && user_id != null) { var package_duration = $.trim($("#mc_pro_37").attr("package_duration")); $("#mc_pro_37").attr("action","https://payments.moneycontrol.com/payment.php"); $("#mc_pro_37").submit(); } else { $("#ifval").val("490px"); $("#myframe").attr("src","https://accounts.moneycontrol.com/mclogin/?d=2"); $("#LoginModal").modal(); } }