Reliance Jio on Tuesday said it will increase mobile phone tariffs in next few weeks.
The announcement comes a day after its rivals Airtel and Vodafone Idea said they will be raising tariffs from 1 December.
Jio said telecom regulator TRAI is likely to initiate consultation process for revision in telecom tariffs.
"Like other operators, we will also work with the government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including appropriate increase in tariffs in next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments," it said in a statement.
Shares of Vodafone Idea and Bharti Airtel were in heavy demand on Tuesday, with the former rising sharply by up to 35 per cent after both the companies announced a hike in mobile phone call and data charges from December.
The company's scrip zoomed 34.68 per cent to close at ₹6.02 on the BSE. During the day, it advanced 42.95 per cent to ₹6.39.
Bharti Airtel shares also rallied 7.36 per cent to ₹439.25 at close of trade. In intra-day, it climbed 8.87 per cent to ₹445.45 -- its 52-week high.
Faced with intense competition and unprecedented statutory dues, Bharti Airtel and Vodafone Idea on Monday announced a hike in mobile phone call and data charges from December saying the increase was warranted for viability of their business.
With inputs from PTI