Sensex Trades Flat; ONGC And SBI Top Losers

Share markets in India are presently trading on a flat note. The BSE Sensex is trading down by 37 points, while the NSE Nifty is trading down by 16 points.

The BSE Mid Cap index is trading down by 0.3%, while the BSE Small Cap index is trading down by 0.6%.

Sectoral indices are trading mixed with stocks in the power sector and realty sector witnessing selling pressure, while consumer durable stocks and IT stocks are witnessing buying interest.

The rupee is currently trading at Rs 71.42 against the US$.

In news from the telecom sector, Bharti Airtel has paid Rs 100 billion to the Department of Telecommunications (DoT) as a part of its adjusted gross revenue (AGR) dues.

In a statement, the company said that it has paid a total amount of Rs 100 billion on behalf of Bharti Airtel, Bharti Hexacom, and Telenor.

The company added that it will make payment of the balance amount after self-assessment exercise.

Bharti Airtel's total AGR dues as assessed by DoT amounts to Rs 355.9 billion, including licence fee and spectrum usage charge.

Last week on Friday, the telecom department issued fifth and final notice to telecom operators for making payment immediately.

DoT's move comes after the Supreme Court pulled up Bharti Airtel and Vodafone Idea for not paying their AGR dues to the government by 23 January.

The apex court had ended a 14-year legal battle between telecom companies and the DoT over what constituted AGR.

While the Supreme Court verdict has hit telcos, note that it has also made non-telecom firms holding licences for internal communications and signaling to pay licence fees on their entire revenue, even if they did not offer telecom services.

DoT has sought Rs 1.72 trillion from GAIL (India), Rs 480 billion from Oil India, and Rs 221.7 billion from Power Grid Corporation of India.

Bharti Airtel share price is presently trading down by 0.1%.

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