Bharti Airtel, Idea Dip In Trade As Regulator Rejects Reconsideration Of Fines

Bharti Airtel, Idea Cellular, major telecommunication service providers are in a bearish mood on Thursday's opening session. They are trading lower up to 3.8% on the NSE.

The Telecom Regulatory Authority of India (TRAI) on Wednesday rejected the telecom department's call to reconsider its recommendation of fines worth Rs 3050 crore on Bharti Airtel, Vodafone India and Idea Cellular.

The penalty was for not providing adequate points of interconnect (PoIs) to Reliance Jio for completing phone calls.

A leading news agency quoting TRAI said that the three incumbent operators “Intentionally denied and delayed” provision of points of interconnect to Reliance Jio “only to restrict a new entrant… causing a lot of inconvenience to consumers”.

The stock of Bharti Airtel was trading lower at Rs 360.7 per share down by 2.1% and Idea Cellular was trading down at Rs 75.80 per share down by 3.8% on the NSE in opening sessions of trade on Thursday. 

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