India's Bharti Airtel to hike mobile tariffs from July 3
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 28 2024
0mins
Source: reuters
- Bharti Airtel Tariff Hike: Bharti Airtel, India's second-largest telecom operator, announced plans to increase tariffs across all its plans starting July 3.
- Market Response: Shares of Bharti Airtel initially rose by 4.1% in pre-market trading but later settled at a 0.7% increase.
- Industry Trend: The tariff hike by Bharti Airtel follows a similar move by Reliance Industries' Jio Infocomm, the leading telecom provider in India.
- Tariff Freeze: Major Indian telcos like Bharti, Jio Infocomm, and Vodafone Idea had not raised tariffs since 2021, with analysts anticipating a change post the national election results in June.
- Spectrum Auction Purchase: Bharti Airtel also acquired airwaves worth $820 million in the recent government spectrum auction, securing additional spectrum for 5G connectivity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
