Bharti Airtel surges 6%, hits new high on tariff hike; Vodafone Idea up 6%

Shares of Bharti Airtel hit a new high of Rs 756, up 6 per cent on the BSE in Monday’s intra-day trade, after the telecom services provider increased its tariffs for telecom subscribers for a range of services effective November 26. The decision, the company said, was for a “financially healthy business model”. The company hiked prepaid tariff by 20-25 per cent and data top-up plans by 20-21 per cent.

The stock surpassed its previous high of Rs 746 hit on November 15, 2021. In comparison, the S&P BSE Sensex was down 0.57 per cent at 59,298 points at 09.33 am. In the past one month, Bharti Airtel has outperformed the market by gaining 11 per cent, as against a 3.9-per cent decline in the benchmark index.