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Bharti Airtel rings off on possible Rs 650 crore fine

30 May 2013 Evaluate

Bharti Airtel is currently trading at Rs 309.60, down by 4.70 points or 1.50% from its previous closing of Rs 314.30 on the BSE.

The scrip opened at Rs 306.70 and has touched a high and low of Rs 311.00 and Rs 306.00 respectively. So far 63030 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 370.40 on 25-Jan-2013 and a 52 week low of Rs 238.50 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs 317.25 and Rs 294.80 respectively. The current market cap of the company is Rs.117457.61 crore.

The promoters holding in the company stood at 68.55% while Institutions and Non-Institutions held 25.83% and 5.62% respectively.

The Department of Telecom (DoT) is likely to slap a demand notice of Rs 650 crore on Bharti Airtel for allegedly violating licence norms on subscriber local dialing (SLD) services in 13 regions between 2003 and 2005. SLD is a facility that allows roaming customers to be on the local network and thereby avoid paying roaming and STD charges.

The Telecom Minister Kapil Sibal has also approved the recommendations of DoT committee which stated that the maximum permissible financial penalty of Rs 50 crore for each circle be imposed on the company for 13 circles where the violations took place.

The committee has also added that Bharti Airtel should be asked to provide the call detail records (CDRs) of all calls in respect of the SLD service and the loss incurred to national exchequer in the form of licence fee and spectrum charges should also be recovered from the company.

Earlier in June 2003, the telecom ministry had directed Bharti Airtel and Hutch (now Vodafone) to stop providing this facility, saying SLD amounted to violation of the national routing plan and helped companies avoid a levy charged with every long-distance call. The Sunil Mittal-promoted company however continued offering this service till 2005.

Bharti Airtel Share Price

1846.55 6.20 (0.34%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Bharti Airtel 1846.55
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