Airtel, Idea Cellular up after TRAI asks Jio to withdraw summer offer
Shares of telecom companies such as, Bharti Airtel and Idea Cellular, were trading higher in early trade on Friday after Telecom Regulatory Authority of India asked Mukesh Ambani-owned company to withdraw Reliance Jio’s summer surprise offer.
Reliance Jio on Thursday said that it has withdrawn its Summer Surprise offer nnnounced last week to comply with the Telecom Regulatory Authority of India’s advice.
Cheering the news, shares of Bharti Airtel rose 2.17 %to hit intra-day high of Rs 349.05 apiece on the Bombay Stock Exchange. In a similar trend, stocks of Mumbai-based Idea Cellular were up 1.91 % at Rs 88.15 apiece on the BSE. Meanwhile, the broader benchmark BSE Sensex was trading at 29,841.50, down 85.84 points or 0.29 %, at 11:25 hours.
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