Amid telecom woes, Vodafone Idea & Airtel's rally enters 4th consecutive day

Shares of Vodafone Idea and Bharti Airtel remained in heavy demand on Wednesday, with former surging up to 32 per cent, after anuncing a hike in mobile phone call and data charges from December. Vodafone Idea shares zoomed 31.72 per cent to Rs 7.93 on BSE. This is fourth consecutive day of rise in Vodafone Idea shares. During this time, scrip has more than doubled.

About Airtel' gain

Bharti Airtel also rose 3.11 per cent to hit its 52-week high of Rs 452.95, registering its fourth consecutive day of gain. In four days, stock has gained 24.90 per cent. Faced with intense competition and unprecedented statutory dues, Bharti Airtel and Vodafone Idea on Monday anunced a hike in mobile phone call and data charges from December saying increase was warranted for viability of ir business.

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"To ensure that its customers continue to enjoy world-class digital experiences, Vodafone Idea will suitably increase prices of its tariffs effective December 1, 2019," Vodafone Idea h said. telecom sector is highly capital-intensive with fast-changing techlogy cycles that require continuing investments, Bharti Airtel said. "It is, refore, extremely important that industry remains viable to support vision of Digital India. Accordingly, Airtel will appropriately increase price offerings in month beginning December," it ded. 

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