The telecom stocks are trading in red terrain on reports that telecom regulator Trai has decided to reject the demand of incumbent mobile operators such as Bharti Airtel, Vodafone and Idea Cellular for an increase in the fee that they charge from Reliance Jio to terminate its calls on their networks.
Bharti Airtel is currently trading at Rs. 317.65, down by 4.30 points or 1.34% from its previous closing of Rs. 321.95 on the BSE. The scrip opened at Rs. 320.00 and has touched a high and low of Rs. 320.00 and Rs. 314.50 respectively. So far 70086 shares were traded on the counter.
Reliance Communications (RCom) is currently trading at Rs. 49.85, down by 0.90 points or 1.77% from its previous closing of Rs. 50.75 on the BSE. The scrip opened at Rs. 50.00 and has touched a high and low of Rs. 50.25 and Rs. 48.30 respectively. So far 980332 shares were traded on the counter.
Idea Cellular is currently trading at Rs. 83.10, down by 0.50 points or 0.60% from its previous closing of Rs. 83.60 on the BSE. The scrip opened at Rs. 82.80 and has touched a high and low of Rs. 83.65 and Rs. 82.05 respectively. So far 274538 shares were traded on the counter.
The regulator has also asked the incumbent operators to provide ‘requisite number’ of interconnect points to Jio ‘at the earliest’ and ensure that consumers are not put at an inconvenience due to lack of connectivity.
The move will be a shot in the arm for Reliance Jio, which has been battling poor services in the absence of adequate number of interconnection points that are required to connect outgoing or incoming calls on a mobile network.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1610.70 |
| Vodafone Idea | 7.85 |
| Indus Towers | 343.60 |
| Tata Communications | 1850.80 |
| Bharti Hexacom Ltd. | 1419.05 |
| View more.. | |
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