Airtel shares surge 3% after company avails moratorium on AGR dues

Earlier in September, the government had approved a relief package for the telecom sector. The package included a four-year moratorium (a temporary prohibition) on AGR and spectrum dues. However, companies opting for the moratorium have to pay interest on the amount availed under the benefit. After Vodafone Idea, Airtel is the second company to avail of this benefit.

The confirmation came a week after DoT wrote to all the private telcos -- Reliance Jio, Vodafone Idea, and Bharti Airtel -- to decide whether they want to opt for a moratorium.

Earlier in October, the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) had told DoT it won't enforce the penalties to the tune of Rs 3,000 crores on the telecom majors Airtel and Vodafone Idea in the points of interconnection case until the tribunal's next hearing. The next hearing is expected to take place on Tuesday, October 26.