Idea and Bharti feel Jio's heat
By
Research Desk
about 8 years ago
Idea is the top loser on the BSE and Bharti Airtel is also amongst the top three losers currently. This is the Reliance Jio effect. Both the stocks have lost over 9% since morning.
The kind of tariffs which Jio has announced today has literally shaken up the sector, announcing the cheapest data plan. Launching the services at the AGM today, Mukesh Ambani said that Jio’s base rate for data will be one tenth of the current market prices. Its roaming charges will be zero within India with all domestic voice calls will be free.
This has sent shivers down the spines of the existing telecom operators; the Jio launch as expected has shaken up the entire sector