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Sensex, Nifty end flat; Vodafone ends 26% lower
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SME Times News Bureau | 17 Jan, 2020
The Sensex and Nifty closed with minor gains on Friday after the SC
dismissed the review petitions of telcos on its Adjusted Gross Revenue
(AGR) verdict.
Vodafone Idea scrip price plunged 26 per cent on
Friday and Bharti Infratel fell over 11 per cent post the court order on
the NSE. However, Reliance Industries and Bharti Airtel closed with
sharp gains.
"The verdict may put a severe burden on telcos and
have unconceivable repercussions, particularly against the backdrop of
VIL facing a risk of shutdown .. Bharti is well prepared and, along with
Jio, appears poised for strong market share gains," Motilal Oswal said
in a note.
The Sensex closed 12.81 points higher at 41,945.37
after hitting an all-time high of 42,063.93 earlier in the day. This
Nifty settled 3.15 points lower at 12,352.35.
Vinod Nair of
Geojit Financial Services said: "As anticipated Mid & Small caps are
outpacing the broader market due to fall in economic risk and revival
in business growth. Main indices are impacted by SC verdict on AGR,
having an effect on Telecom & Banking sectors which are already
facing NPA problem."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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