All the listed telecom stocks in the stock exchanges are in the green Tuesday morning. The biggest gainer out of all the telecom companies is Vodafone Idea (listed as Idea), with almost a 3% gain. Vodafone Idea’s shares had closed at Rs 13.45 on Monday and opened at Rs 13.55 on Tuesday. At the time of writing, the telco’s stocks are currently trading at Rs 13.80, which is 2.60% up from its previous close. Vi’s shares have also touched Rs 14, which is the high for the stock so far on Tuesday.
Airtel, Vodafone Idea, and RIL Stocks in the Green on Tuesday Morning
Bharti Airtel’s shares had closed at Rs 675.75 on Monday and opened at Rs 679.85. At the time of writing, Airtel's shares are trading at Rs 681.30, which is 0.82% in the green. Airtel’s stock touched a high of Rs 683 on Tuesday.
Reliance Industries Limited (RIL), the parent company of Reliance Jio, India’s number one telecom operator, is also in the green on Tuesday morning. At the time of writing, RIL’s shares are trading at Rs 2380, which is 0.41% in the green. RIL had also opened in green at Rs 2375.60 on Tuesday compared to its previous close of Rs 2370.25 on Monday. The conglomerate’s stock has touched a high of Rs 2388.90 on Tuesday so far.
Why Are Telecom Stocks Rising?
There are multiple reasons why a stock moves up and down. It is not just the telecom stocks, but on Tuesday, the overall market seems to be bullish with the bank stocks as well as airline stocks in the green. Both SENSEX and NIFTY are also in the green.
The telecom stocks have received a major boost since the time the government announced relief measures. There are more relief measures on the way, which are aimed at reducing litigation in the sector and also making norms easier for the telcos.