Telecom stocks tumbles, Vodafone Idea plunges 22 per cent

In today’s trading session, shares of telecom service providers declined extensively. The notice issued by the Department of Telecommunications (DoT) played the key role in it.

DoT has issued a notice to telecom operators to pay their revenue share dues within three months. This was directed by the Supreme Court.

The DoT has given the option to clear all the dues on self-assessment basis to telecom operators.

According to an internal estimate, prepared by the DoT, the total dues on telecom service providers, arising out of the Supreme Court's order, are around Rs. 1.33 lakh crores.

As per this estimate, Bharti Airtel Group has a liability of Rs. 62,187 crores, Vodafone Idea’s liability stood at Rs. 54,184 crores, and the liability of BSNL and MTNL’s is of Rs. 10,675 crores.

With this, shares of Bharti Airtel declined nearly 4 per cent and made an intraday low of Rs, 354.55 on the BSE.  Shares of Vodafone Idea tumbled by 22 per cent and made an intraday low of Rs. 2.90 on the BSE.