Business Telcos earnings, ARPU to improve with tariff hike, say analysts Updated : December 02, 2019 02:41 PM IST Axis Capital said the increase in tariff is in line with the companies' communication in Novemberto strengthen the industry and the companies will compete on the basis of quality and service. Goldman Sachs said that with Bharti and VIL announcing a fairly large tariff increase in one go, it could be some time before either company announces another future tariff hike. Bank of America and Merrill Lynch said more tariff hikes could follow. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.