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There is voting for the assembly elections in Maharashtra on Wednesday, due to which the stock market is closed. Today, on the holiday, big news has come about telecom companies. There is news of relief for tower and telecom companies from the Supreme Court.
The Supreme Court has approved the petition of Airtel, Vodafone Idea and Tata Telecommunication. Telecom companies and tower companies can take input tax credit on tower parts and shelters.
According to telecom companies and tower companies, this is a big relief. In 2021, the Delhi High Court had declared the input tax credit as correct. The matter was pending in different courts since 2004.
Earlier, Ashwinder Sethi, partner at Analysis Mason, told Moneycontrol that a capital expenditure target of 50,000-55,000 is very important for Vodafone because it is lagging behind Jio and Airtel in terms of many network parameters. The company is working fast on many tasks including 5G launch.
Vodafone management has once again reiterated that the telecom company and its promoters are in talks with lenders for loans to fund capital expenditure under the network expansion plan for the next three years.
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