Telecom stocks fall; Bharti Airtel plunges 3 pc

Telecom stocks faced selling pressure today, falling up to 3 per cent, after regulator TRAI slashed ceiling tariffs following which mobile calls while in roaming will be cheaper by up to 23 per cent and sending SMSes will cost up to 75 per cent less from May 1.
Shares of Bharti Airtel fell by 2.97 per cent to settle at Rs 406.80 on the BSE.
Similarly, Idea Cellular lost 2.29 per cent 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 per cent, while sending SMSes will cost up to 75 per cent 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.