Telecom Stocks Rally

S&P Global Ratings expects Airtel's earnings and cash flows to rise over the next 24 months, benefitting from the industry-wide hike in mobile tariffs in India.

Vodafone Idea is expected to be one of the key beneficiaries as the company was required to submit a total of Rs 24,700 crore in BGs, ICICI Securities said in a note.

Telecom stock update: Bharti Airtel rallied 5 per cent to hit a new high at Rs 1,539; RIL rose 2% to Rs 3,129, and saw its market capitalisation touch Rs 21.12 trillion in intra-day trades today.

As part of the package, there could be some relaxation on payment of levies to the government including a one-year moratorium on spectrum installment due in April 2022.

Microsoft Corp, Apple Inc and Amazon.com Inc dropped, weighing more than any other stocks on the S&P 500

Surge in traffic and digitisation trends to power revenues

Vodafone Idea's ARPU at Rs 109 is nearly 20 per cent lower than Bharti Airtel. CLSA expects the company's ARPU to grow by 30 per cent by FY22, underpinned by tariff hikes

Tariff hikes may not be across the board but in a few key segments, say experts

Bharti Airtel was the biggest gainer among the 30-share index components