Jio tariff hike impact: Reliance, Bharti Airtel jump, Vodafone Idea share falls 2.5%

livemint.com:

Stock market today: Following the telecom tariff hike announced by the Indian telecom majors Reliance Jio and Bharti Airtel, telecom stocks reacted to the news during early morning deals. Today, Bharti Airtel's share price opened upside at ₹1,536.25 per share and touched an intraday high of ₹1,536.25 apiece on NSE.

Likewise, Reliance's share price also surged as Jio's business is linked to Reliance Industries Ltd (RIL). However, Vodafone Idea share price witnessed selling pressure in early morning deals.

Vodafone Idea share price today opened upside at ₹19.10 apiece on NSE, but soon came under the sell-off heat and touched an intraday low of ₹17.91 apiece, losing around 2.50 percent against Thursday's close of ₹18.52 per share.Extending the bull trend for the fourth straight session, Reliance's share price today opened upside at ₹3,062.05 apiece on NSE and surged to an intraday high of ₹3,129.85 per share, bettering its previous peak of ₹3,075 per share, made on Thursday. While climbing to this new peak, Reliance shares touched a new high for the third straight session.After Reliance Jio announced a telecom tariff hike on Thursday, Bharti Airtel also declared a tariff hike on Friday, which fueled buying interest in the telecom major.

As a result, Bharti Airtel's share price opened with an upside gap and touched an intraday high of ₹1,536.25 per share on NSE. While climbing this intraday high, Bharti Airtel shares touched a new lifetime high during Friday morning deals.However, Vodafone Idea's share price witnessed a rapid decline in early morning deals.

Today, it opened with an upside gap at ₹19.10 apiece on NSE but quickly came under selling pressure, touching an intraday low of ₹17.91 apiece. This rapid decline led to