The move comes as mobile phone companies in India, burdened by heavy debt and facing huge payouts for airwaves, are cutting discounts to customers, effectively increasing call prices.
Easing competition after several smaller carriers either shut down or scaled back operations is also helping the bigger carriers to be aggressive on call prices, which are one of the cheapest in the world.
The stock has more than doubled since April.
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Reliance Communication hikes voice call prices by 20%
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