Idea Cellular gains after hiking mobile data rates by up to 100% in Delhi NCR

Idea Cellular rose 2.19% to Rs 177.70 at 11:45 IST on BSE after reports company hiked mobile data rates by up to 100% for pre-paid customers in the National Capital Region.

The announcement was made after market hours yesterday, 4 June 2015.

Meanwhile, the BSE Sensex was up 8.40 points, or 0.03%, to 26,821.82.

On BSE, so far 1.18 lakh shares were traded in the counter, compared with an average volume of 5.83 lakh shares in the past one quarter.

The stock hit a high of Rs 178.20 and a low of Rs 174.15 so far during the day. The stock hit a record high of Rs 203.90 on 17 April 2015. The stock hit a 52-week low of Rs 129.80 on 27 June 2014.

The stock had underperformed the market over the past one month till 4 June 2015, dropping 2.5% compared with 2.46% decline in the Sensex. The scrip had however outperformed the market in past one quarter, gaining 11.37% as against Sensex's 8.74% fall.

The large-cap telecom company has an equity capital of Rs 3598.34 crore. Face value per share is Rs 10.

Idea Cellular has reportedly hiked mobile data rates by up to 100 per cent for pre-paid customers in the National Capital Region (NCR), becoming the first telecom operator to raise the tariff after Rs 1.1 lakh crore spectrum auction in March 2015. The company has doubled the price for some 2G plans, while 3G will be costlier by about 33%. The new rates came into effect from 3 June 2015. The company also reportedly plans to increase the data tariffs in more circles in the coming days.

As per the new rates, customers will now get only 1.5 gigabytes (GB) of 2G mobile internet data for Rs 255 against 3 GB offered to them earlier at the same price. The company has made changes in most of recharge vouchers for 2G and 3G services. Idea has reduced 3G mobile internet limit in its scheme offered for Rs 755. Its customers will get only 3 GB of mobile data for Rs 755 against 4 GB offered earlier, making this pack expensive by about 33%, report said.

Also, 1 GB, 3G pack with a validity of 28 days will now cost Rs 295 against Rs 249 earlier, while a 1 GB, 2G data pack will now come for Rs 195 with 28 days validity as against Rs 175 earlier. The company has also reduced validity of various packs. For instance, customers will now get a validity of 7 days with a recharge of Rs 247 for 1 GB, while earlier it used to cost Rs 249 with 28 days validity. Idea customers will have to pay 27.5% more for 500 MB pack on 2G network. They will be charged Rs 125 for this pack compared to Rs 98 that they paid earlier. The company has also removed 3 GB plan on its 2G network, report added.

Idea Cellular's consolidated net profit rose 59.7% to Rs 941.77 crore on 21.4% growth in total income to Rs 8608.91 crore in Q4 March 2015 over Q4 March 2014.

Powered by Capital Market - Live News