Bharti Airtel recovers after initial fall; RIL at new high as TRAI cuts IUC

Bharti Airtel recouped losses in noon deals to trade at Rs 395 levels after falling nearly 6% to Rs 370 on the Bombay Stock Exchange (BSE). Idea Cellular, on the other hand, continued to trade 2.4% lower at Rs 81 levels.

Both these stocks were hammered after the Telecom Regulatory Authority of India (TRAI) cut termination charge for all mobile to mobile calls to 6 paise per minute from 14 paise effective October 1.

That apart, in two years, the charges would come down to zero, meaning there won’t be any payment for calls landing on other telcos’ networks. The decision came in post market hours on Tuesday.

Following the development, Idea Cellular slipped 7% to Rs 76.85, while Bharti Airtel was down 6% to Rs 370 on the BSE in morning trade.

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