Bharti Airtel jumps 7%, hits 52-wk high on fund raising, RJio's IUC move

According to Motilal Oswal Securities, Bharti and Idea could see this as a welcome positive as it could result in an increase in EBITDA by Rs 2,760 crore

Shares of Bharti Airtel hit a 52-week high of Rs 385, up 7 per cent on the BSE on Thursday, after Reliance Jio (RJio) on Wednesday said it would charge 6 paise per minute on off-net calls. The move, analysts believe, would be viewed as sentimentally positive for telecom companies. 

In the past two trading sessions, the stock has surged 13 per cent  and has now surpassed its previous high of Rs 379 touched on August 8.

In a bold move to counterbalance the impact from the Telecom Regulatory Authority of India’s (Trai) consultation paper -- which is contemplating postponing