Bharti Airtel shares up after TDSAT sets aside Rs 650 cr fine

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Mumbai | December 10, 2014 1:15 PM

Shares of Bharti Airtel gained over 2 per cent today after telecom tribunal TDSAT set aside Rs 650 crore...

scrip rose by 2.18 per cent to Rs 362 on the BSE. (Reuters)scrip rose by 2.18 per cent to Rs 362 on the BSE. (Reuters)

Shares of Bharti Airtel gained over 2 per cent today after telecom tribunal TDSAT set aside Rs 650 crore penalty imposed by the DoT on the company.

The telecom major’s scrip rose by 2.18 per cent to Rs 362 on the BSE.

On the NSE, shares of Airtel went up by 2.11 per cent to Rs 361.65.

TDSAT had yesterday set aside Rs 650 crore penalty on Airtel imposed by the DoT in a roaming case.

The DoT had issued demand notice of Rs 650 crore to Airtel in July 2013.

The DoT had found Bharti Airtel routing national and international calls as local calls (SLD) under a scheme till 2005 despite being told to stop it in 2003, and that it caused loss to the government exchequer and state-run Bharat Sanchar Nigam Ltd (BSNL) across 13 service areas.

Meanwhile, in the broader market the benchmark Sensex was trading up by 89.19 points at 27,886.20.

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