Telecom stocks surge after tariff hike announcements
Business | December 02, 2019 11:01 ISTShares of Vodafone Idea were trading at Rs 8.38, up 22.69 per cent, on the BSE. The stock rose 22.63 per cent to Rs 8.40 on the NSE.
Shares of Vodafone Idea were trading at Rs 8.38, up 22.69 per cent, on the BSE. The stock rose 22.63 per cent to Rs 8.40 on the NSE.
After private-sector players like Bharti Airtel, Vodafone Idea and Reliance Jio announced their plans to raise tariffs, mobile calls and internet charges will go up to 50 percent in the country from December 3.
After Vodafone Idea and Bharti Airtel, Reliance Jio on Sunday announced new tariff plans with up to 40 percent increase in prices. The new "all-in-one" plans will come into effect from December 6, Reliance Jio said in a statement, adding that customers would now on get more benefits too.
The telecom operators like Reliance Jio, Vodafone-Idea, Airtel and BSNL are all set to hike mobile call, internet charges for over 60 crore mobile subscribers in India. The mobile tariffs are likely to go up from December 1, while Vodafone is to hike charges from December 3, 2019 for monthly prepaid and postpaid customers. Recently, the telecom companies made the announcement that has left thousands of subscribers jittery.
Reliance Jio has emerged as the highest bidder for mobile tower and optical fibre assets of Reliance Infratel by placing bids of around Rs 3,600 crore, according to banking sources privy to the development.
Reliance Jio will hike mobile phone call and data charges, the company announced on Tuesday. Billionaire Mukesh Ambani's Reliance Jio has issued a statement announcing the decision, a day after Vodafone Idea Ltd and Bharti Airtel made public similar plans December onwards.
Reliance Jio on Friday said that delaying the implementation of zero calls connect charges beyond January 2020 will hurt affordability of telecom services in a sector where users have benefited from free voice calls. Reliance Jio Director Mahendra Nahata said that the ratio of incoming and outgoing call is now at par with each other and traffic asymmetry can, therefore, no longer be the reason to delay implementation of Bill and Keep (BAK) regime.
Reliance Jio has written to Telecom Minister Ravi Shankar Prasad stating in unequivocal terms that the proposed telcos bailout would be contempt of the Supreme Court judgment and an illegal trigger to widespread precedent.
Billionaire Mukesh Ambani's Reliance Jio on Thursday strongly opposed any bailout to telecom companies at taxpayer's expense and asserted that telcos should be mandated to deposit their dues within the court-stipulated timeline of three months, as they have the capacity to comfortably clear their liabilities.
Telecom Secretary Anshu Prakash on Wednesday met Cabinet Secretary Rajiv Gauba to discuss the way forward for the Committee of Secretaries set up to consider a relief package for the telecom sector.
RIL's CMD Mukesh Ambani has said that consolidation of liabilities in the company creates an efficient structure to manage debt and cash.
Opensignal has consistently found Airtel to be the fastest network in terms of 4G data download while telecom regulator Trai has found Reliance Jio to be the fastest network from last several months.
Reliance Jio on Monday announced new "all-in-one" plans which are marginally cheaper than its existing prepaid plans and also include Interconnect usage charges for 1,000 minutes of outgoing calls.
Analysts say tariffs could move in any direction depending on decisions of both the operators and the Telecom Regulatory Authority of India (trai).
Jio will provide additional data entitlement of equivalent value based on IUC top-up voucher consumption. This will ensure no increase in tariff for customers, the company has announced.
Reliance Jio was the only net gainer adding 84.45 lakh subscribers in August, while other telecom operators including Bharti Airtel and Vodafone Idea were on the losing side, a report by regulator Trai showed on Friday.
Reliance Jio was the only net gainer adding 84.45 lakh subscribers in August, while other telecom operators including Bharti Airtel and Vodafone Idea were on the losing side, a report by regulator Trai showed on Friday.
The customer engagement video assistant solution has been developed by Reliance Jio in conjunction with US-based Radisys, a Reliance Industries Ltd subsidiary, a statement said.
To establish India as leader in 5G, price of 5G spectrum needs to be critically looked at, he said adding that higher prices will impact 5G adversely.
Shares of telecom companies on Thursday rose up to 6 per cent in the wake of Reliance Jio deciding to levy call connect charges on customers, a move that is likely to be followed by rivals.
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