Bharti Airtel, Vodafone Idea shares gain up to 10% after TDSAT rejects predatory pricing rules
Shares of Bharti Airtel and Vodafone Idea on Friday surged up to 10 percent a day after the telecom tribunal TDSAT struck down TRAI's new rules on predatory pricing saying they lacked required transparency.
New Delhi: Shares of Bharti Airtel and Vodafone Idea on Friday surged up to 10 percent a day after the telecom tribunal TDSAT struck down TRAI's new rules on predatory pricing saying they lacked required transparency.
Shares of Bharti Airtel increased 9.97 percent to Rs 332.9, while Vodafone Idea gained 8.02 percent to Rs 37.7 on the BSE, during intra-day trade.
Similar movement was seen on the NSE, wherein Bharti Airtel climbed 9.99 percent to Rs 333.4, and Vodafone Idea advanced 8.02 percent to Rs 37.7.
On Thursday, the telecom tribunal set aside sectoral regulator TRAI's new norms on predatory pricing for lack of transparency in the guidelines over determining market share and rates of services.
The order provides much-needed relief to operators such as Bharti Airtel and Vodafone Idea who had alleged that the rules were tailored for a new entrant.
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Vodafone Idea and Bharti Airtel together shed 29.6 million users by March-end compared to February.
In a letter to Trai, Telecom Watchdog flagged concerns over the manner in which the two companies had allegedly fixed similar tariffs at the same time
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