October 23, 2017 / 4:32 AM / 2 months ago

BUZZ-Indian telcos rise after Jio raises tariffs; Reliance Industries hits record high

** Shares of Indian telecom companies rise after Reliance Industries Ltd’s telecoms arm, Jio, raised tariffs last week, signalling more pricing discipline in the sector

** Among steps, Jio shortened the time period for its 399 rupees ($6.13) special data plan to 70 days from 84 days

** Deutsche Bank says Jio’s action implies a “progressively normalisation of sector pricing”

** Jio’s entry had sparked cutthroat competition in telecoms sector, eroding profitability

** Reliance Industries’ shares rise as much as 2.3 pct to a record high

** Bharti Airtel rises as much as 2.4 pct to highest in over eight years

** Idea Cellular climbs as much as 4.8 pct, while Reliance Communications gains as much as 3 pct ($1 = 65.0800 Indian rupees)

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