SME Times News Bureau | 18 Nov, 2019
Vodafone-Idea (VIL) on Monday advanced nearly 18 per cent on the NSE
over investors renewed interest in telecom stocks over a possible
government-led revival. Bharti Airtel also surged by 3.5 per cent.
This
comes after Finance Minister Nirmala Sitharaman on Friday stated that
the government doesn't want any telecom company to shut operations.
"All
factors have been subsumed in the discussions within the government on
the telecom sector. Post-AGR, the Finance Ministry is trying to
understand the impact of the order on the telecom sector," Sitharaman
said.
Airtel and Vodafone Idea -- have posted a combined loss of
Rs 74,000 crore in Q2 by provisioning for the AGR pending dues. Vodafone
has hinted at not being able to remain as a going concern if relief
does not come for the sector.
