Telecom stocks under pressure; Idea cracks over 5%
New Delhi: Telecom stocks, led by Idea Cellular came under selling pressure today, falling up to 5.3 per cent, amid concerns over increasing tariff war.
Idea Cellular tumbled 5.30 per cent to close at Rs 61.65 on BSE. Intra-day, it slumped 6.29 per cent to Rs 61.
Shares of Bharti Airtel fell by 1.30 per cent to end at Rs 376.10. During the day, it lost 1.94 per cent to Rs 373.65.
Reliance Communications dipped 0.31 per cent to close at Rs 16.05. Reliance Jio yesterday started offering 1.5 GB additional data per day to customers on all pre-paid plans.
Telecom sector is witnessing intense competition and tariff wars.