Bharti Airtel cracks as 2G trial court summons Sunil Mittal
Shares of Bharti Airtel, the largest telecom operator in India, crashed nearly 8 percent on Tuesday after 2G trial court has summoned company's chairman Sunil Mittal.
March 19, 2013 / 16:24 IST
Shares of Bharti Airtel, the largest telecom operator in India, crashed nearly 8 percent on Tuesday after 2G trial court has summoned company's chairman Sunil Mittal.
CBI has taken a cognisance of Bharti and Vodafone chargesheet today. The 2G trial court in Patiala accused Sunil Mittal in additional spectrum case.The court also summoned Asim Ghosh, former MD of Hutchison Essar and Ravi Ruia, vice-chairman, Essar Group & ex-chairman of Hutchison Essar.Trial court will hear additional spectrum case on April 11.At 14:57 hours IST, shares of Bharti Airtel lost 4.5 percent to Rs 294.20 amid large volumes on Bombay Stock Exchange.Trading volumes increased nearly 3 times to 11,41,568 equity shares as against five-day average of 3,94,191 sharesThe stock fell more than 10 percent in four consecutive sessions since last Thursday, especially after the Department of Telecommunication slapped a fine of Rs 350 crore for offering 3G services in seven telecom circles where it doesn't have 3G spectrum. However, the Delhi High Court stayed that penalty on Monday. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
