Stock Market Today With Anil Singhvi: Do not to overreact to AGR judgement, warns Market Guru
Stock Market Today With Anil Singhvi: The wait is almost over as the Supreme Court will likely announce its judgement in the Adjusted Gross Revenues (AGR) case today. Zee Business Managing Editor Anil Singhvi has advised investors to trade cautiously and not react on piece-meal information as the information related to various issues will gradually emerge from the judgement.
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AGR मामले पर फैसला आने से पहले ना करें हड़बड़ी...
— Zee Business (@ZeeBusiness) September 1, 2020
Irrational trading will be dangerous for investors, Singhvi warned.
The Market Guru has said that the apex court had heard the issues at length and has inquired from the companies about the time they would require to pay AGR dues; about the surety of payment if the time is given to the telecom companies.
It also has to decide on companies who have bought spectrum from other companies through the IBC route and also about recovery from those companies who have become bankrupt.
While the decision is expected around 11:30 am, the news related to every issue will emerge one-by-one, Singhvi said.
The Market Guru asked investors and traders not to overreact on any information. It is still not known in what order the information will start to come, he further said.
He conceded that the biggest news however will be on the timeline of the payment.
There is also some good news in the form of an approval given to the merger of Indus Towers and Bharti Infratel by latter’s board in a meeting held on 31 August. Idea will get around Rs 4000 cr for its 11 per cent stake. There is a lot of action for the telecom sector today.
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He said that the investors should not jump at the news that come out of today’s judgements.
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