Bharti Airtel hits all-time high, Vodafone Idea and Indus Towers scale 52-week peaks as telecom firms start increasing tariffs
First Reliance Jio increased tariffs on Thursday, and then Bharti Airtel followed the path. Bharti Hexacom's circle rates have also been hiked.While Reliance Jio has hiked tariffs from 12.5 per cent to 25 per cent, Bharti Airtel has also hiked them by 10 per cent to 21 per cent.
Telecom Stocks: Bharti Airtel hit an all-time high, Vodafone Idea and Indus Towers scaled 52-week peaks, and Tata Communications and Bharti Hexacom made a strong start on BSE on Friday (June 28, 2024) as leading telecom firms in India have started increasing mobile plan tariffs.
First Reliance Jio increased tariffs on Thursday, and then Bharti Airtel followed the path.
Bharti Hexacom's circle rates have also been hiked.
While Reliance Jio has hiked tariffs from 12.5 per cent to 25 per cent, Bharti Airtel has also hiked them by 10 per cent to 21 per cent.
Jio has hiked its tariff of postpaid plans from 12.5 per cent to 16.7 per cent and its monthly prepaid plans by 12.5 per cent to 25 per cent.
It has also hiked its 1 GB data add-on rates by 26.6 per cent.
On the other hand, Bharti Airtel has also hiked its postpaid plans by 10 per cent to 20 per cent.
In this way, the average tariff hike is less than 70 paise per day by Bharti Airtel.
Its increased rates will be applicable from July 3.
The telecom company's plan of Rs 179 will now be available for Rs 199.
Its postpaid plan of Rs 399 will now be available for Rs 449.
What does brokerages say?
Morgan Stanley says Jio's earnings can increase by up to 20 per cent next year due to further tariff hike.
CLSA says Bharti Airtel and Vodafone Idea tariffs were at a 20-25 per cent premium to Jio.
Bernstein feels Vodafone Idea is expected to grow by 20-25 per cent.
JP Morgan says Jio's tariff hike has shifted focus from market share gains.
Here's how leading telecom stocks are performing in today's trade on BSE.
Bharti Airtel hits all-time high
After closing at Rs 1,471.80 in the previous session, the stock of Bharti Airtel jumped by 4.57 per cent to its all-time high of Rs 1,539.10 on Friday.
The stock that began its journey at Rs 1,535.00 on Friday closed the session down by 1.80 per cent, or Rs 26.45, at Rs 1,445.35.
Vodafone Idea at 52-week high
After closing the previous session at Rs 18.52, the stock of Vodafone Idea jumped by 3.40 per cent to its 52-week high of Rs 19.15 on Friday.
The stock that opened Friday's session at Rs 19.02 closed it lower by 3.35 per cent, or Rs 0.62, at Rs 17.90.
Bharti Hexacom Ltd share price
After closing the previous session at Rs 1,181.40, the Bharti Hexacom stock jumped by 4.96 per cent to Friday's high of Rs 1.240.00.
After beginning the session on Friday at Rs 1,240.00, the stock was closed trading down by 5.30 per cent, or Rs 62.60, at Rs 1,118.80.
Tata Communications share price
After closing at Rs 1,859.35 a day ago, the stock of Tata Communications jumped by 1.33 per cent to Friday's high of Rs 1,884.15.
After starting Friday's session at Rs 1,874.35, the stock of Tata Communications closed trading down by 0.27 per cent, or Rs 5.05, at Rs 1,854.30.
Indus Towers share price
After closing the previous session at Rs 365.65, the Indus Towers stock rose by 4.33 per cent to a 52-week high of Rs 384.75 on Friday.
The stock that started the session on Friday at Rs 374.95 closed it higher by 2.57 per cent, or Rs 9.40, at Rs 375.05.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
11:29 PM IST