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Reliance Jio: Airtel, Idea Shares Dropped by 9% After Mukesh Launched Jio

Reliance Jio: Airtel, Idea Shares Dropped by 9% After Mukesh Launched Jio

New Delhi: Shares of Idea Cellular and Bharti Airtel plunged up to 9 per cent on Thursday after RIL Chairman Mukesh Ambani announced free voice calling and cheaper data tariffs for Jio customers.

Idea Cellular tanked 9 per cent to Rs 85, its 52-week low on BSE.

Shares of Bharti Airtel dropped 8.99 per cent to Rs 302. Ambani also announced a ‘free welcome offer’ for Jio customers from September 5 till December 31.

Reliance Jio will offer users data services free for four months, after which it will offer 10 tariff plans starting at Rs 19 a day for occasional users, Rs 149 a month for low data users and Rs 4,999 a month for heavy data users.

At the RIL’s 42th Annual General Meeting, the billionaire industrialist said Jio is targeting 100 million users in shortest possible time.

PTI