Telecom companies shares rise on proposal to fix floor price for data tariffs

Shares of Reliance Industries, the parent firm of unlisted RJio Infocomm, lost 0.92 per cent to Rs 1,564.35 on the BSE.

Published: 04th December 2019 11:37 AM  |   Last Updated: 04th December 2019 11:37 AM   |  A+A-

Sensex, stocks, bse, nse, nifty, shares

For representation purposes (File Photo | PTI)

By PTI

NEW DELHI: Telecom companies' shares on Wednesday zoomed as much as 11 per cent buoyed by the proposal before regulator Trai regarding fixing a minimum price for mobile internet tariff.

Vodafone Idea shares spurted 11.21 per cent to trade at Rs 7.84 apiece in early deals on the BSE. On the NSE, the stock soared 11.35 per cent to Rs 7.85 per unit.

Bharti Airtel also saw its shares rising though marginally at 0.23 per cent to trade at Rs 460 a unit on the BSE. The telco's shares on the NSE were trading at Rs 459.35 apiece, up 0.05 per cent.

Shares of Reliance Industries, the parent firm of unlisted RJio Infocomm, lost 0.92 per cent to Rs 1,564.35 on the BSE.

On the NSE, its scrip went down 0.94 per cent to Rs 1,564.10. Telecom operators have proposed sector regulator Trai to fix a minimum price for mobile internet as no company on its own is in a position to decide on it due to fierce competition in the market, industry body COAI said on Tuesday.

"All the current telecom service providers in the private sector, namely Bharti Airtel Limited, Reliance Jio and Vodafone Idea limited are in complete agreement that Trai be requested to regulate tariffs by setting floor price for data services," COAI Director General Rajan S Mathews said in the letter dated December 3, 2019. However, private telecom operators want call rates to continue to remain unregulated.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp