Bharti Airtel and Reliance Industries Limited (RIL) are trading in the green on Wednesday. Airtel had a relatively weak Tuesday in the market, and its stock had closed in the negative. At the time of writing, Airtel is trading at Rs 693.95, which is 1.04% in the green. Jio's parent company, Reliance Industries Limited (RIL), is also trading in the green at Rs 2605.55, which is 0.81% in the positive (Note that these figures are for at the time of writing this).
Vodafone Idea, another listed telecom company in the Indian market, is trading 2.66% in the red at Rs 9.15. This could be due to a sell-off ahead of the earnings release. Vi had notified the exchanges about the earnings call scheduled for August 4, 2022. Vi is expected to release financial reports for Q1 FY23 later today.
Vodafone Idea's stock falling can be over the worries about the losses that the company is likely to report. Many traders might have also sold to book profits on the back of a strong Tuesday. Vi's ARPU is currently the lowest in the telecom industry, and it is a sign of worry for the investors. But the industry together has been implementing tariff hikes over various services to boost their revenues. Another tariff hike is expected later in the year.
