Bharti Airtel, Vodafone Idea shares surge following tariff revision announcement

Both Vodafone Idea and Bharti Airtel have announced that they are going to increase tariff prices from December 1, 2019. The announcement from both the telcos came post market hours on Monday.

Bharti Airtel shares surged to a 52-week high on Tuesday, rising 8.87 per cent to Rs 445.45 in the intraday trade on the BSE. Vodafone Idea, on the other hand, rallied 42.95 per cent to Rs 6.39 on the BSE in the intraday trade on Tuesday. (Image source: Reuters)

Shares of India’s two key telecom operators – Bharti Airtel and Vodafone Idea, were in focus on Tuesday after both of these companies on Monday announced that they will increase tariff prices from December 1 – the first-ever hike in tariffs in the country’s cut-throat telecom market since 2012.

Shares of Bharti Airtel rose 7.36 per cent to settle at Rs 439.25 apiece while that of Vodafone Idea surged 34.68 per cent to end at Rs 6.02 per share.

Earlier in the day, Bharti Airtel had surged to a fresh 52-week high rising 8.87 per cent to Rs 445.45 in the intraday trade on the BSE. Vodafone Idea, on the other hand, rallied 42.95 per cent to Rs 6.39 on the BSE during the trade session.

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Both Vodafone Idea and Bharti Airtel have announced that they are going to increase tariff prices from December 1, 2019. The announcement from both the telcos came post market hours on Monday.

However, none of these two telecom firms disclosed what is going to be the quantum of the hike in the mobile service rates.

Vodafone Idea, Airtel to hike tariffs from Dec 1; first for sector in over five years

The hike in December by Vodafone Idea and Bharti Airtel is going to be the first hike in tariffs in India’s heavily competed telecom market since 2012. This fresh move by the two major telecom giants may set up a trend for further upward tariff revisions in the future which can help the telecom operators to cut down on their existing losses.

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