Shares of Vodafone Idea suffered losses while those of Bharti Airtel traded almost flat in morning trade on Monday after they received a setback from the Department of Telecommunications.
ET reported that the Department of Telecommunications (DoT) has backed penalties of Rs 3,050 crore on Bharti Airtel and Vodafone Idea for allegedly denying Reliance Jio Infocomm adequate points of interconnection (PoIs) in 2016.
The telecom department’s view is set to be taken up by the Digital Communications Commission (DCC), the highest decision-making body of the department, at a meeting this week, government officials told ET.
The Telecom Regulatory Authority of India (Trai) had in October 2016 upheld Jio’s complaint and recommended fines of Rs 1,050 crore each on Airtel and Vodafone India and Rs 950 crore on Idea for violating rules on service quality.
Around 9:40 am, shares of Vodafone Idea traded 1.92 percent down at Rs 12.27 while those of Bharti Airtel were down 0.08 percent at Rs 353.―India Finance News