Telecom stocks soar on tariff hike news

Mumbai: Beaten down frontline telecom stocks soared higher with massive gains for the second consecutive day this week on Tuesday, as Vodafone Idea and Bharti Airtel announced plans to raise mobile phone call and data charges. The BSE Telecom Index gained a whopping 8.52 per cent.

Vodafone Idea shares closed with a 34.68 per cent gain on the BSE at Rs 6.02. The stock had gained over 21 per cent on Monday too, leading to over 50 per cent gains in just two sessions. However, the gains have come after massive price erosion, from its 52-week high price of Rs 27.51.