Vodafone Idea, Airtel shares jump up to 30% on tariff hike move

NEW DELHI: Shares of Vodafone Idea and Bharti Airtel on Tuesday jumped up to 30 per cent after both the companies announced a hike in mobile phone call and data charges from December.
Vodafone Idea zoomed 29.75 per cent to Rs 5.80 on the BSE; while Bharti Airtel jumped 6.31 per cent to Rs 435 – its 52-week high.
Faced with intense competition and unprecedented statutory dues, Airtel and Vodafone Idea on Monday announced a hike in mobile phone call and data charges from December saying the increase was warranted for viability of their business.
First, Vodafone Idea in a statement announced plans to raise tariffs for the first time in three years only to be followed by a similarly worded statement minutes later from Airtel.