Idea Cellular shares gain on talk of tariff hike

Idea Cellular gained 2 per cent on market speculation that the wireless services provider has increased local call tariffs for new pre-paid customers in the state of Madhya Pradesh.

Idea declined to comment on the market talk.

However, a source aware of the developments plays down the extent of tariffs.

"There is a minor tweak in just one of the prepaid plans. The tariff is now 1.2 paisa/2 seconds from 1 paisa earlier. This is applicable only to the new customers," said a source with direct knowledge of the matter.

The source adds that Idea has several other plans, "so it's not right to say Idea has raised tariffs in Madhya Pradesh circle by 20 per cent" across the board.

Madhya Pradesh is one of Idea's strongest operating zones, where it had a 35 per cent revenue market share in the three months ended June, according to data from the sector regulator.