Union cabinet on Wednesday did not take up the proposals for providing financial relief to India’s debt-laden telecom sector, a government source said.<\/p>\n
The cabinet was widely expected to take a decision on a so-called relief package for the telecoms industry, which would have helped all wireless carriers but especially the embattled Vodafone Idea.<\/p>\n
Telecom stocks gave up gains after a source said the cabinet did not take up a proposal for telecom relief measures.<\/p>\n
The blue-chip NSE Nifty 50 index fell as much as 0.62% to 17,254.20 and the benchmark S&P BSE Sensex was down 0.61% at 57,924.80.<\/p>\n
Both indexes were muted for most of the session until 0720 GMT.<\/p>\n
Earlier in the day, telecom stocks were on investors’ radar, with a news report claiming the telecom department is devising measures to improve health of the debt-laden sector. DoT has proposed a four-year moratorium on adjusted gross revenue and spectrum payments besides a reduction in spectrum usage charge, prospectively, according to the report<\/p>\n
Bharti Airtel Ltd hit a record high of Rs 683.80, while peer Vodafone Idea Ltd surged as much as 7.9% to be up nearly 20% so far this week.<\/p>\n","protected":false},"excerpt":{"rendered":"
Union cabinet on Wednesday did not take up the proposals for providing financial relief to India’s debt-laden telecom sector, a government source said. The cabinet was widely expected to take a decision on a so-called relief package for the telecoms industry, which would have helped all wireless carriers but especially the embattled Vodafone Idea. Telecom stocks gave up gains after a source said the cabinet did not take up a proposal for telecom relief measures. The blue-chip NSE Nifty 50 index fell as much as 0.62% to 17,254.20 and the benchmark S&P BSE Sensex was down 0.61% at 57,924.80. Both […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-798956","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798956"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798956\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}