Telecom cos up on report govt OKs moratorium on AGR dues

author-image
New Update
Telecom cos up on report govt OKs moratorium on AGR dues

​BY A STAFF REPORTER



Telecom cos up on report govt OKs moratorium on AGR dues







Shares of Bharti Airtel and Vodafone Idea extended the day's gains on a news report that the Union Cabinet has approved moratorium on the payment of adjusted gross revenue dues for four years for the operators.





It will provide some breather, especially to Vodafone Idea, which is reeling under severe financial stress.





The moratorium will be a relief for Vodafone Idea, but if this is the only measure, then it is still not sufficient, Nitin Soni, senior director at Fitch Ratings said in a television interaction. The company needs to raise money quickly for capital expenditure and improve their competitive position, he added.





Telecom minister and information and broadcasting minister are expected to brief the media today at 1500 IST.





Source : Eureka