Telcos pare gains as SC rejects license extension plea

MUMBAI: Shares of telecom companies Bharti Airtel, Idea Cellular and Reliance Communications were off day’s high following reports that the Supreme Court has rejected their license extension plea.

The apex court didn’t see any merit in telecom companies' pleas for license extension

The telecom companies had filed a plea for extension of expiring licenses by 10 years after the government's decision to reject their applications.

GV GIRI, Telecom Analyst, IIFL in an interview to ET Now said, the Supreme Court ruling was on expected lines and its unclear whether the judgement will end the uncertainty in the sector.