![Brokerages turn bullish on telcos after tariff hike](https://cdn.magzter.com/1547192204/1719600564/articles/zlQI5bjELbEHIgUKcEysys/BROKERAGES-TURN-BULLISH-ON-TELCOS-AFTER-TARIFF-HIKE.jpg)
While RJio announced a hike ranging between 12 and 25 per cent across plans in post-market hours on Thursday, the Sunil Mittalowned Bharti Airtel followed up by increasing its key telecom plans on Friday. The move triggered an uptick in the respective stocks, with RIL hitting an intraday high of ₹3,129 on the BSE.
Bharti Airtel's stock rallied 5 per cent on Friday to hit a new high of ₹1,539.10 on the BSE. In the past two rounds of tariff hikes, Vodafone Idea (Vi) in December 2019 and Bharti (December 2021) took the lead, while RJio was the last one to raise tariffs. Unlike Bharti Airtel and Vi, who have been vocal on the need for industry tariff repair, RJio, wrote analysts at Kotak Institutional Equities, has not been upfront about the need for industry-wide tariff hikes.
Diese Geschichte stammt aus der June 29, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der June 29, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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