Shares of Bharti Airtel and Vodafone Idea zoomed nearly 10 percent after TDSAT quashed TRAI’s rules on predatory pricing.
Shares of Bharti Airtel and Vodafone Idea zoomed nearly 10 percent after TDSAT quashed TRAI’s rules on predatory pricing. While Bharti Airtel stock rose 9.97 percent to hit intraday high of Rs 332.9, Vodafone Idea earned 8.02 percent to Rs 37.7 on the BSE. On NSE, Bharti Airtel scrip jumped 9.99 percent to Rs 333.4, and Vodafone Idea surged 8.02 percent to Rs 37.7.
The telecom tribunal TDSAT on Thursday had junked telecom regulator TRAI’s new rules on predatory pricing on account of lack of transparency in the guidelines over determining market share and rates of services.
Telecom majors including Bharti Airtel and Vodafone Idea received much-needed relief who had accused that the norms were favouring a particular a new entrant.
Meanwhile, Sensex and Nifty have turned choppy this afternoon amid mixed macro cues like weakening rupee and easing crude prices. Sensex is trading about 40 points lower at 35,879.21.
Nifty saw similar movement, shedding 5.55 points, 0.05 per cent, to 10,786. Fortis Healthcare Ltd share price plunged 14% to Rs 130.20 on Friday morning after Supreme Court put its sale on hold. Bharti Airtel share price gained by more than 9.8% after Telecom Disputes Settlement and Appellate Tribunal (TDSAT) quashed provisions related to predatory pricing and discounted tariffs.