Airtel, Vodafone Idea shares jump on tariff hike call

Kolkata: Shares of Bharti Airtel and Vodafone Idea rose after both said they will raise tariffs in December, with some analysts expecting a minimum 15 per cent increase that will boost revenue and operating income at the loss-making telcos.

Bharti Airtel was up 7 per cent at the Tuesday close on the BSE. Vodafone Idea rose 35 per cent.

Goldman Sachs said in a note that the move was a “key catalyst investors had been waiting for to turn constructive on India telco stocks,” adding that the event could “make it easier for Vodafone Idea to raise capital in future.”