Read more about Telecom shares rise on Business Standard. Telecom stocks were trading with gains, with the S&P BSE Telecom index rising 62.6 points or 4.45% at 1469.77 at 09:48 IST.
Read more about Telecom shares gain on Business Standard. Telecom stocks were trading in the positive zone, with the S&P BSE Telecom index rising 20.56 points or 1.57% at 1326.14 at 09:48 IST.
Classification as fraud account unjustified: RCom
In the case of Reliance Infratel, Reliance Jio unit Reliance Digital Platform is the successful Resolution Applicant and lenders will get Rs 4,400 crore from the implementation.
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| A+A A- By Express News Service
NEW DELHI: After several Indian banks marked the loan accounts of Reliance Communications Ltd and two other subsidiaries as fraudulent, the bankrupt Anil Ambani-led firm released a statement Wednesday calling the classification as “entirely unjustified”.
The Delhi High Court on Tuesday had directed two of these banks Union Bank of India and Indian Overseas Bank to maintain the status quo regarding the classification, after RCom and its subsidiary Reliance Telecom Ltd challenged the move.
Telecom stocks were trading in red, with the S&P BSE Telecom index decreasing 7.27 points or 0.57% at 1270.63 at 13:48 IST. Among the components of the S&P BSE Telecom index, Sterlite Technologies Ltd (down 2.5%), Bharti Airtel Ltd (down 1.08%), ITI Ltd (down 0.86%), and Reliance Communications Ltd (down 0.49%), were the top losers. On the other hand, GTPL Hathway Ltd (up 6.84%), Tejas Networks Ltd (up 4.96%), and OnMobile Global Ltd (up 4.93%) turned up.
At 13:48 IST, the S&P BSE Sensex was up 80.32 or 0.17% at 47826.54.
The Nifty 50 index was up 18.15 points or 0.13% at 14000.1.
The S&P BSE Small-Cap index was up 90.95 points or 0.5% at 18124.26.
The S&P BSE 150 Midcap Index index was up 28.01 points or 0.47% at 5969.51.
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Have you even wondered about the continuous onslaught of unwanted commercial communication (UCC) or spam messages and unwanted calls from telemarketers? If yes, then data shared by the telecom regulator shows that there are over 230,000 entities registered as telemarketers with 11 telecom companies. However, the data shared by the Telecom Regulatory Authority of India (TRAI) may be incomplete as the cumulative of Reliance Jio and Bharti Airtel itself is nearly 275,000. It may also be possible that many entities have registered themselves with different telcos. But even in that case, the TRAI record considers it as a separate entry and this should have been added in the cumulative. Also remember, TRAI sharing this information does not mean that it will either act against some of the most notorious and dubious telemarketers or make sure that all numbers registered with do-not-call (DNC) registry will be filtered out by telemarketers. TRAI will do nothing to help telecom or mobile