AGR case: Telecom stocks fluctuate; Reliance Communications gains most this week, Vodafone Idea slips

This hearing remains significant for the telcos' especially as it involves a whopping amount of over Rs 1,00,000 crore to be paid by all the telcos as AGR dues. The timeline for this staggered payment remains the key factor to look out in today's hearing.

In case of Reliance Communications, the Supreme Court was informed by senior advocate Harish Salve that Reliance Jio had already paid Rs 195 crore AGR dues and that if there were any remaining dues, if at all, they would be paid by Jio as well.

Meanwhile, the NCLT Mumbai has adjourned Reliance Communications' resolution plan hearing to Friday (August 21).

For Vodafone Idea and Bharti Airtel, the court said the total AGR demand came in at Rs 58,254 crore with the company so far clearing Rs 7,854 crore. For Bharti Airtel, the total AGR demand came in at Rs 43,980 crore of which the telco has so far paid Rs 18,004 crore. Both are now seeking a 15-year timeline to pay the remaining Rs 50,400 crore dues and Rs 25,976 crore respectively.

On July 20, the apex court had reserved its order saying that there is "no going back" on the DoT demand on the AGR issue, and it will only consider the timeline. The AGR dues relate to an apex court ruling on October 24 last year when it upheld the government's broader definition of AGR, on which it calculates various levies like spectrum usage charges and license fees.