Idea Cellular terminates agreement with Videocon Telecom; stock up 2%
.jpg)
Shares of Idea Cellular were up nearly 2% at Rs 100 on the Bombay Stock Exchange after the company said by mutual written consent it has terminated the agreement with Videocon Telecommunications Ltd for acquisition of right to use spectrum in the telecom service areas of Gujarat and Uttar Pradesh (West) for an aggregate consideration of approximately Rs 3,310 crore.
The release further said that no joint intimation of this agreement for Right to Use spectrum under Spectrum Trading Guidelines was filed with Department of Telecom.
There is no cost implication to the company on termination of the captioned agreement, the release added.
The stock opened at Rs 98.75 and touched a high of Rs 100.60. At 9:55am, over 820,000 shares were traded on both the stock exchanges.
Other Latest News
.webp)
The Enforcement Directorate has filed a money laundering case against YouTuber Siddharth Yadav alias Elvish Yadav and some others under the charge of suspected use of snake venom as a recreational drug in parties he hosted, official sources said Saturday.
The central agency has pressed charges under the Prevention of Money Laundering Act (PMLA) after taking cognisance of a FIR.
.webp)
A flood and a landslide hit Indonesia's Sulawesi island, killing 14 people, officials said Saturday.
Torrential rain pounding the area since Thursday triggered a landslide in Luwu district in South Sulawesi province, said local rescue chief Mexianus Bekabel.
.webp)
India's largest port operator Adani Ports and Special Economic Zone Limited (APSEZ) is looking to expand its operations into the Philippines, with plans to invest in port development, according to a release issued by the office of the president of Philippines.
APSEZ Managing Director Karan Adani met with the Philippines President Ferdinand Marcos Jr at Malacañang on May 2 in a courtesy call to discuss Adani Group's plans for the port.
.webp)
The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with massive fraud though not for any work it performed for former President Donald Trump's media company.
The SEC charged the accounting firm BF Borgers and its owner, Benjamin F. Borgers, of deliberate and systematic failures in more than 1,500 audits.
.webp)
India's markets regulator has sent notices of regulatory violations to seven companies of the Adani conglomerate, including its flagship Adani Enterprises, the group said in stock exchange filings.
The regulator began probing the Adani group, led by billionaire Gautam Adani, after Hindenburg Research in January 2023 alleged improper use of tax havens and stock manipulation by the group, accusations the group has denied.
.webp)
.webp)
.webp)
.webp)
.webp)
