Bharti Airtel gains on tariff hike; Vodafone climbs 8%

Shares of telecom firm Bharti Airtel rose in Monday’s session after the company on Sunday hiked its mandatory minimum recharge for pre-paid customers to Rs 45 from Rs 23.

Airtel traded 1.30 per cent up at Rs 460.90 at 12 pm. Its rival Vodafone Idea was up 6.13 per cent at Rs 6.15 at around the same time.

“…it will be mandatory to recharge with a voucher of Rs 45 or above, every 28 days to avail services,” Airtel said.

The new minimum recharge plan will come into effect from Sunday. The announcement pertained to prepaid subscribers of Bharti Airtel and Bharti Hexacom in all service areas, Bharti Airtel added.