The BSE Telecom index was trading under pressure at 923 levels, down ~2.5% in Monday’s session.
Vodafone Idea was contributing majorly to the index's losses, followed by, Bharti Infratel, Tata Com and Sterlite Technologies which were also in the negative zone on the BSE.
Among the other constituents of the index, Tejas Networks, Vindhya Telelinks, HFCL and Bharti Airtel were up for the day.
Shares of Vodafone Idea hit a 52-week low at Rs6.60 on the BSE and tanked over 27% in the noon trade. The company posted a net loss of Rs4,873.90cr in the quarter ended June 2019 as against a net profit of Rs256.50cr during the previous quarter ended June 2018.
Meanwhile, the Sensex is down 139 points at 37,743, while the Nifty dropped by 75 points to trade at 11,210 levels. The Indian rupee has turned positive and trading at day's high level.
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