Mumbai: Telecom stocks faced selling pressure Thursday, falling up to 3 percent, after regulator TRAI slashed ceiling tariffs following which mobile calls while in roaming will be cheaper by up to 23 percent and sending SMSes will cost up to 75 percent less from May 1.
Shares of Bharti Airtel fell by 2.97 percent to settle at Rs 406.80 on the BSE.
Similarly, Idea Cellular lost 2.29 percent to Rs 187.75.
"Telecom majors Airtel and Idea corrected after TRAI reduced the ceiling on national roaming tariffs from May 1," said Rakesh Goyal, Senior Vice President of Bonanza Portfolio.
Mobile calls while in roaming will be cheaper by up to 23 percent, while sending SMSes will cost up to 75 percent less from May 1 as regulator TRAI slashed ceiling tariffs.
"TRAI has reduced ceiling tariffs for national roaming calls and SMS and has mandated telecom service providers to offer a special roaming tariff plan. These changes will come into effect from May 1," it said in a statement.
