Telecom index gains over 2.5%; Airtel hits 8-year high

India Infoline News Service | Mumbai | October 23, 2017 12:33 IST

Shares of Bharti Airtel rose 5% to hit their eight-year high as the company is expected to raise tariff following the hike announced by rival Reliance Jio Infocomm on Oct 18. The stock hit Rs 500/sh for the first time since May 2009.

Airtel
Shares of Bharti Airtel rose 5% to hit their eight-year high as the company is expected to raise tariff following the hike announced by rival Reliance Jio Infocomm on Oct 18. The stock hit Rs 500/sh for the first time since May 2009.

Bharti Airtel Ltd is currently trading at Rs 497.15, up by Rs 23.3 or 4.92% from its previous closing of Rs 473.85 on the BSE.The scrip opened at Rs 472 and has touched a high and low of Rs 501.45 and Rs 472 respectively.

Shares of Idea Cellular and Reliance Communications also rose 8% and 6%, respectively, on expectations that these companies may also raise tariffs soon.

The S&P BSE Telecom index, the largest gainer on BSE, was up over 2.5%.

Reliance Communications Ltd is currently trading at Rs 17.5, up by Rs 1.05 or 6.38% from its previous closing of Rs 16.45 on the BSE.The scrip opened at Rs 16.4 and has touched a high and low of Rs 17.95 and Rs 16.4 respectively.

Idea Cellular Ltd is currently trading at Rs 98.05, up by Rs 6.95 or 7.63% from its previous closing of Rs 91.1 on the BSE. The scrip opened at Rs 91.25 and has touched a high and low of Rs 99.3 and Rs 91.25 respectively.

Tata Communications Ltd is currently trading at Rs 719.8, up by Rs 18.35 or 2.62% from its previous closing of Rs 701.45 on the BSE. The scrip opened at Rs 694 and has touched a high and low of Rs 722 and Rs 694 respectively.

***Note: This is a NSE Chart

 

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