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Supreme Court quashes ₹125 crore service tax demand against Airtel

after close1 source ↓written by the desknot a recommendation

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₹125 crore

The Supreme Court has provided major relief to Bharti Airtel by upholding a prior ruling from the Customs, Excise and Service Tax Appellate Tribunal, which dismissed a service tax demand of ₹125 crore related to the ‘Call Free Allowance’ for employees. This ruling clarifies that the CFA is not taxable as it does not constitute consideration for services rendered.

This decision may positively impact Airtel's financials by eliminating a significant tax liability, potentially lifting investor sentiment in the telecom sector.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 3 Nov 2025, 18:10 IST.

Sourcesnews.google.com

The market after the news

BHARTIARTL closed +1.9% on the day of the news, from ₹2,074.00 to ₹2,113.30; Nifty −0.6% over the same session; futures OI −4.3%.

Bulletin at 18:10 IST on 3 Nov 2025. Every change is measured from ₹2,074.00, the last close before it, on 3 Nov. Nifty 50 is measured over the same sessions.

  • BHARTIARTL close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
  • futures OI, lots
BHARTIARTL closes around the bulletin against the close before the news, with Nifty 50 rebased to it193020742218axis spans 15%before the news · 3 Nov2074Nifty 50BHARTIARTLbulletinD0+1+3+528 Oct10 Nov19 NovFutures open interest, lotspeak 1.1 LReference close ₹2,074.00. 16 sessions from 28 Oct to 19 Nov; the price axis spans 15 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before3 Nov₹2,074.00basebase
On the day4 Nov₹2,113.30▲ +1.9%▼ −0.6%+2.5 pp difference
+1 session6 Nov₹2,094.90▲ +1.0%▼ −1.0%+2.0 pp difference
+3 sessions10 Nov₹2,019.80▼ −2.6%▼ −0.7%−1.9 pp difference
+5 sessions12 Nov₹2,073.800.0%▲ +0.4%−0.5 pp difference
Gap at the open, % · ₹
▲ +1.6%+32.98 on 4 Nov
Day's range, % · ₹
1.6%≈ 32 high to low
Volume on the day
2.67×the 20-session average
Futures OI on the day
▼ −4.3%−4,100 lots · short covering · price +1.9%
Futures OI open, lots
91,0004 Nov · 25 Nov expiry
Futures premium, ₹
+4.60+0.2% to spot
Puts per call, by OI
0.42from 0.52 the session before
Max pain
2,080from 2,060 the session before

Source NSE UDiFF bhavcopy · BHARTIARTL on the desk →

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