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The Supreme Court is expected to pronounce a crucial verdict today (Tuesday) on the payment timelines of the adjusted gross revenue (AGR) dues of over Rs 1.6 lakh crore, a ruling which could decide the fate of Vodafone Idea. The government has sought a 20-year time frame for telcos to pay back their balance AGR dues, while the two most affected telcos- Vodafone Idea (over Rs 50,400 crore balance dues) and Bharti Airtel (nearly Rs 26,000 crore balance) have sought 15 years. Vodafone Idea has warned it would be forced to shut shop if made to pay its dues at one go.
Larsen & Toubro: Larsen & Toubro has announced the much awaited closure of its deal to sell its electrical and automation business to France headquartered-Schneider Electric, after the two companies announced the Rs 14,000 crore-deal in May 2018.
BHARTI INFRATEL
The company decided to proceed with the Scheme of Arrangements for a merger with Indus Towers.
DREDGING CORP
Reported a manifold jump in net profit to Rs 11.45 crore for the quarter ended June 30, 2020. It clocked a net profit of Rs 0.81 crore in the corresponding quarter a year ago. Its total income during the quarter under review stood at Rs 168.22 crore as against Rs 199.65 crore in the year-ago period.
JK CEMENT
Reported a 62.25 per cent decline in consolidated net profit at Rs 49.94 crore for the first quarter ended June 2020 as company's operations and business performance was impacted due to lockdown. The company had posted a net profit of Rs 132.30 crore in April-June period a year ago
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