Telcos shares rise on proposal to fix floor price for data tariffs

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.