Vodafone Idea, Airtel, Reliance Jio agree to help themselves before govt can

Mumbai: Bharti Airtel Ltd and Vodafone Idea Ltd have added about $5.5 billion and $1.25 billion, respectively, to their market capitalization in the past three trading sessions alone.

Just last week, they reported record losses and it seemed like at least one of these companies was staring at the end. Evidently, things have gotten so bad for the industry that help from the government has become increasingly certain.

But it looks like telcos have been asked to help themselves before the government can. Before news of any relief package, Vodafone Idea, Bharti Airtel and surprisingly, even Reliance Jio Infocomm Ltd, have announced that they will raise tariffs within the next few weeks.