NEW DELHI: Shares of Bharti Airtel and Vodafone Idea climbed approximately up to 10 per cent in intraday trading on Friday, after the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) struck down TRAI’s new rules on predatory pricing.
By the end of the trading day, shares of Bharti Airtel rose 5.32 per cent to close at Rs 318.8 on the BSE. On the other hand, Vodafone Idea gained 3.58 per cent to close at Rs 36.15.In terms of the equity volume, over 11.9 lakh shares of Bharti Airtel were traded during the day, while more than 33.5 lakh units of Vodafone Idea changed hands on BSE.
On Thursday, TDSAT set aside TRAI norms on predatory pricing citing lack of transparency over determining market share and rates of services. In February 2018, TRAI said it will impose financial disincentive of up to Rs 50 lakh per circle on operators if their service rates are found to be predatory in nature.