Tweet
New telecom players battered on Dalal Street
Supreme Court’s verdict on new telecom companies spectrum licneces resulted into beating down of their shares by investors on Thursday.
Shares of realty firm Unitech, one of the promoters of Uninor, were the worst hit and settled for the day 7.04 per cent down at Rs 25.10 on the BSE, after dropping as much as 14 per cent intra-day.
DB Realty, which had lost 8.62 per cent during the day, trimmed most of the losses and closed the day 0.48 per cent lower at Rs 62.30.
Videocon ended at Rs 171.95, down 0.92 per cent.
Shares of Reliance Communications which had lost 9.31 per cent during the day, pared most of the losses and settled at Rs 96.85, down 3.54 per cent.
RCOM said that licences to the company were issued in 2001 or prior to that and will not be affected by the Supreme Court judgement pronounced squashing all 122 licences alloted in January 2008.
“RCom’s licences are not affected by the Supreme Court judgement pronounced today,” it said in a statement.
The 122 licences were given by Raja for over Rs 9,000 crore, while 3G auctions for a smaller number of licences had fetched the government a sum of Rs 69,000 crore.
The BSE benchmark Sensex closed for the day 131.27 points higher at 17,431.85.
Supreme Court’s verdict on new telecom companies spectrum licneces resulted into beating down of their shares by investors on Thursday.
Shares of realty firm Unitech, one of the promoters of Uninor, were the worst hit and settled for the day 7.04 per cent down at Rs 25.10 on the BSE, after dropping as much as 14 per cent intra-day.
DB Realty, which had lost 8.62 per cent during the day, trimmed most of the losses and closed the day 0.48 per cent lower at Rs 62.30.
Videocon ended at Rs 171.95, down 0.92 per cent.
Shares of Reliance Communications which had lost 9.31 per cent during the day, pared most of the losses and settled at Rs 96.85, down 3.54 per cent.
RCOM said that licences to the company were issued in 2001 or prior to that and will not be affected by the Supreme Court judgement pronounced squashing all 122 licences alloted in January 2008.
“RCom’s licences are not affected by the Supreme Court judgement pronounced today,” it said in a statement.
The 122 licences were given by Raja for over Rs 9,000 crore, while 3G auctions for a smaller number of licences had fetched the government a sum of Rs 69,000 crore.
The BSE benchmark Sensex closed for the day 131.27 points higher at 17,431.85.
