Loss-hit Voda-Idea, Airtel surge up to 27pc on floor price buzz
Telecom stocks on Friday surged up to 27 per cent after reports suggested that the telecom department may fix a floor price for data and voice tariffs, notwithstanding huge losses reported by two leading players for the July-September quarter.
Vodafone Idea shares surged 31.86 per cent to Rs 3.89 in day trade on BSE. Later, the scrip shed some of the gains to close up by 24.75 per cent at Rs 3.68.
On the National Stock Exchange, the stock soared by 32.2 per cent to Rs 3.90. It settled at Rs 3.75, up 27.12 per cent. On traded volume front, over 82 crore shares of Vodafone Idea were traded on NSE and 12.47 crore on BSE.
Bharti Airtel jumped gained 9.74 per cent to touch intra-day high of Rs 398 apiece. After shedding some gains, the stock settled 8.42 per cent up at Rs 393.20.
During the day, the scrip rallied 9.93 per cent to Rs 398.50 on the NSE. It closed at Rs 396, up 9.24 per cent. In terms of traded volume, over 5 crore shares of Bharti Airtel were traded on the NSE and 23.79 lakh