Indian telecom stocks fall after Jio cuts tariffs to counter Airtel data plans - Hindustan Times
close_game
close_game

Indian telecom stocks fall after Jio cuts tariffs to counter Airtel data plans

Reuters | ByReuters
Jan 24, 2018 01:01 PM IST

Bharti Airtel, India’s No.1 mobile carrier, revised its data plans earlier this week.

Shares of Indian telecom service providers fell on Wednesday after Reliance Jio Infocomm Ltd cut tariffs to counter bigger rival Bharti Airtel Ltd’s revision in data plans.

Jio entered India’s highly-competitive telecom market in late 2016 and disrupted the space with free-voice and cut-price data plans
Jio entered India’s highly-competitive telecom market in late 2016 and disrupted the space with free-voice and cut-price data plans

Jio, the telecom arm of Reliance Industries Ltd, said on Tuesday the revision was “a response to Airtel’s tariff changes”, which would help it maintain “its price leadership”.

Hindustan Times - your fastest source for breaking news! Read now.

Bharti Airtel, India’s No.1 mobile carrier, revised its data plans earlier this week.

Shares of Airtel declined as much as 6.22% to 461.5 rupees on Wednesday, their lowest since October 18, 2017.

Idea Cellular Ltd, India’s third-biggest telecom network operator, dropped as much as 5.7% to its lowest since December 18, 2017 ahead of its quarterly results later in the day.

Debt-ridden Reliance Communications Ltd slipped as much as 2.2%.

Jio entered India’s highly-competitive telecom market in late 2016 and disrupted the space with free-voice and cut-price data plans, forcing rivals to match its tariffs and dragging their margins lower.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, March 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On