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Telecom Stocks Trade Lower After TRAI Defers Scrapping Of IUC Charges
Shares of telecom companies are trading mixed after the telecom regulator TRAI on Tuesday deferred its decision to scrap interconnect usage charges (IUC) by a year to January 2021. Consequently, telecom companies will continue to receive 6 paise per minute upon receiving call from another network. Say when a Vodafone user calls on Airtel, Vodafone will have to pay 6 paise per minute to Airtel and viceversa.
"For wireless to wireless domestic calls, termination charge would continue to remain as Rs 0.06 (paise six only) per minute up to December 31, 2020,"said the Trai.
In Wednesday's trade Bharti Airtel at the time of reporting this story was quoting at Rs. 437.65, down 0.52% or Rs. 2.3, while Vodafone Idea cracked in session by over 5% to hit a day's low of Rs. 6.53 per share on the BSE.
IUC charges were proposed to become zero from January 1, 2021.
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