Read more about CRISIL assigns GCV Level 1 rating to Bharti Airtel on Business Standard. CRISIL has assigned its CRISIL GVC (Governance and Value Creation) Level 1 grading to the telecom major.
Total - 7.50
The trading agreement is in accordance with the Spectrum Trading Guidelines issued by
the Department of Telecommunications and is subject to the requisite regulatory and
statutory approvals. The aggregate value for the right to use this spectrum is Rs. 1,497
crores, inclusive of present value of associated deferred payment liablity of Rs. 459
crores, subject to any transaction related adjustments.
With this trading of right to use spectrum, RJIL will have 2X15MHz of spectrum in the
800MHz band in Mumbai circle and 2X10MHz of spectrum in the 800MHz band in Andhra
Pradesh and Delhi circles, thereby further consolidating its spectrum footprint in these
Bharti Airtel today announced an agreement with Reliance Jio lnfocomm to transfer the Right to Use of Airtel s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) to Jio. The agreement is subject to statutory approvals, the telco said in a regulatory filing issued after market hours today (6 April 2021).
Through this agreement, Airtel will receive a consideration of Rs 1037.6 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crore relating to the spectrum.
Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel said: The sale of the 800 MHz blocks in these three circles has enabled us to unlock value from spectrum that was unutilised. This is aligned to our overall network strategy.
Bharti Airtel sells 800MHz blocks in three circles to Reliance Jio business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Vodafone Idea Ltd has lost 16.51% over last one month compared to 5.93% fall in S&P BSE Telecom index and 1.86% drop in the SENSEX
Vodafone Idea Ltd gained 3.97% today to trade at Rs 10.47. The S&P BSE Telecom index is up 1.06% to quote at 1354.17. The index is down 5.93 % over last one month. Among the other constituents of the index, OnMobile Global Ltd increased 3.34% and Mahanagar Telephone Nigam Ltd added 2.96% on the day. The S&P BSE Telecom index went up 25.87 % over last one year compared to the 61.16% surge in benchmark SENSEX.
Vodafone Idea Ltd has lost 16.51% over last one month compared to 5.93% fall in S&P BSE Telecom index and 1.86% drop in the SENSEX. On the BSE, 39.19 lakh shares were traded in the counter so far compared with average daily volumes of 632.56 lakh shares in the past one month. The stock hit a record high of Rs 13.8 on 15 Jan 2021. The stock hit a 52-week low of Rs 2.91 on 18 Mar 2020.