By Puneet Sikka
Investing.com — Maruti Suzuki (NS:) stock is down by more than 2.6% in today’s trade despite the broader market down by only 0.72%. It happened after the company announced that it is expecting an impact on the production at its plants in October due to electronic components shortages. The company said that the production in October will happen at 60% of normal levels.
On the other hand, Bharti Airtel (NS:) stock is down by 2.7% in today’s trade after the Department of Telecommunications (DoT) incurred fines of around Rs 1,050 crores on Airtel and 2,000 crores on Vodafone Idea (NS:) for flouting the rules by denying Reliance (NS:) Jio Infocomm adequate points of interconnection (PoIs) in 2016. The DoT has given these companies three weeks time to pay these penalties.
This announcement comes from the precedent set by Trai in October 2016 when it ruled that the actions from Airtel, Vodafone, and Idea to deny PoIs was against the public interest.
There is a lot going in the Telecom sector. Recently the government announced a moratorium of four years on Adjusted gross revenue (AGR) and spectrum payments due to the government, which was a big relief to these telecom players.