Shares of Indian telecom services providers fell sharply on Friday
after Reliance Jio Infocomm Ltd unveiled a new post-paid plan as it
takes on bigger rivals such as Bharti Airtel Ltd and Idea Cellular Ltd.
Reliance Jio, the telecom arm of Reliance Industries Ltd, introduced an unlimited domestic post paid plan for Rs199 rupees and international calling at Rs0.50 per minute on Thursday May 10,2018
Bharti Airtel shares closed 6.44% lower at Rs385.70, eroding nearly Rs1,0613 crore market value. Idea Cellular shares ended 11.83% lower at Rs51.45, losing Rs3,007.99 crore in market cap. BSE Telecom Index declined 4.25%, while the benchmark Sensex was up 0.82% to 35,535.79 points.
Reliance Jio, the telecom arm of Reliance Industries Ltd, introduced an unlimited domestic post paid plan for Rs199 rupees and international calling at Rs0.50 per minute on Thursday May 10,2018
Bharti Airtel shares closed 6.44% lower at Rs385.70, eroding nearly Rs1,0613 crore market value. Idea Cellular shares ended 11.83% lower at Rs51.45, losing Rs3,007.99 crore in market cap. BSE Telecom Index declined 4.25%, while the benchmark Sensex was up 0.82% to 35,535.79 points.
No comments:
Post a Comment