Telecom stocks are reacting negatively as Reliance Chairman Mukesh Ambani announced tariff plans of Reliance Jio. Shares of Idea and Bharti fell 9 percent intraday on Thursday. Addressing shareholders, Ambani says that RelianceJio’s base rate for data will be one tenth of current market prices. Reliance Jio roaming charges will be ‘zero’ within India. All domestic voice calls are free.
At 12:09 hrs Idea Cellular was at Rs 87.55, down Rs 5.95, or 6.36 percent and Bharti Airtel was at Rs 313.35, down Rs 18.50, or 5.57 percent on the BSE.
At 12:09 hrs Idea Cellular was at Rs 87.55, down Rs 5.95, or 6.36 percent and Bharti Airtel was at Rs 313.35, down Rs 18.50, or 5.57 percent on the BSE.
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