November 27, 2022

Paull Ank Ford

Business Think different

MARKETS: Sensex up 300 pts; Voda Idea tanks 15%, PSBs dip after AGR verdict

The benchmark indices have been trading increased on Tuesday after the Supreme Courtroom dominated that telecom companies will be authorized 10 yrs for staggered payment of AGR dues.

The apex courtroom stated the 10-year payment timeline will start from April 1, 2021. Furthermore, the telecom companies will have to fork out 10 per cent of the dues by March 31, 2021

The S&P BSE Sensex hovered around 38,920 levels, up 200 details, immediately after briefly reclaiming the 39,000-degree before in the session. The Nifty50 index was trading around eleven,420 levels. IndusInd Financial institution (up 4%), Tata steel, State Financial institution of India, and Bajaj Finance (all up two%) have been the leading Sensex gainers. On the other hand, ONGC dipped 3 per cent.

Among telecom shares, Vodafone Thought tanked as uch as 16 per cent even though Bharti Airtel surged six per cent post the AGR verdict.

The development amongst all the Nifty sectoral indices was blended, with the Nifty PSU Financial institution index trading two per cent lessen.

In the broader current market, the S&P BSE MidCap index was ruling 1.4 per cent increased, and the SmallCap index was up .six per cent.

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Apart from these, a complete of 37 companies including ONGC, Shalimar Paints are scheduled to announce their June quarter earnings today which may possibly induce inventory-unique moves.