Airtel, Vodafone Idea stocks surge on tariff increase call

Shares of Bharti Airtel rose by 5. 39% at Rs 431.30 and those of Vodafone Idea were up by 20.13% at Rs 5.37 in the morning trading hours on the BSE on Tuesday. The uptick was on the back of the two telcos’ call to raise tariffs from December onwards, a move that will improve revenues and operating income for the two operators.

In separate statements on Monday, Vodafone Idea and Airtel cited the financial stress in the sector, the current low tariffs and the need to invest in networks to keep up with surging data demand as the reasons for the move.