INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of beaten-down Vodafone Idea climbed as much as 32 per cent in Wednesday's trade, extending its four-day rally to nearly
The stock hogged limelight after the company said it will raise mobile services rates from December 1 in the wake of the ongoing financial
past years even as it faces fresh statutory dues liability - running into thousands of crore - that has put the income tax department in a
of Rs 2.95 on November 14
50,921 crore - the highest ever loss posted by any domestic company - for the second quarter ended September 30, on account of liability
arising out of the Supreme Court order in the adjusted gross revenue case.
On the other hand, Bharti Airtel was up 3.11 per cent at Rs
452.95 in the early trade, taking its four-day gains to 26 per cent
Airtel on Monday also said that it will start raising rates for services in December to make the business viable.
Bharti Airtel remains the
preferred bet to play the potential market repair (or consolidation), for now, Kotak Securities said.
On the other hand, shares of Reliance
call and data charges in the next few weeks in compliance with rules
Market capitalization of the company is just shy of Rs 10 lakh crore
The scrip was up 4 per cent at Rs 1,571.
Santosh Meena, Senior Analyst, TradingBells believes there is a rapid move in the sentiment in
telecom from extreme pessimism to frenzy buying especially for Vodafone Idea and Bharti Airtel
news of tariff hikes fuel the further bullish momentum in telecom stocks
The market is factoring that tariff rates in the telecom sector have bottomed out and it has become an only three-player market that will
remain a leader and its diversified business minimises any industry risk because in the telecom sector, there is always a regulatory
down 3.45 per cent at Rs 0.56 per share.