comscore Airtel, Idea, Reliance Communications stocks bounce back, gain up to 3 percent
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Airtel, Idea, Reliance Communications stocks bounce back, gain up to 3 percent

Reliance Jio data plans had adverse effect on the telecom industry. The shares had fallen sharply by up to 11 percent in intra-day trade, wiping out Rs 16,997 crore from their market valuation.

  • Published: September 3, 2016 12:37 PM IST
bharti-airtel-business

After Mukesh Amabani launched its Reliance Jio plans for users, the telecom stocks of companies like Bharti Airtel, Idea Cellular has fallen. Howere, the stocks have now bounced back during the fag-end of trade rising up to 3 percent, on emergence of buying at lower levels after witnessing sharp losses amid the announcement of launch of much-talked about Jio 4Gservice. Talking about the shares of  the company, Bharti Airtel, had fell by 1.35 percent to Rs 306.50 in intra-day, later made a comeback and settled 2.66 percent higher at Rs 318.95 on BSE. Idea Cellular also pared its intra-day loss of 3.64 percent to close at Rs 84.05, up 0.42 percent. Same was the case with Reliance Communications that ended with a mild gain of 0.10 percent at Rs 49.20 after earlier falling 3.45 percent to Rs 47.45 in intra-day.
Due to the Reliance Jio effect, the shares had fallen sharply by up to 11 percent in intra-day trade, wiping out Rs 16,997 crore from their market valuation. Reliance Industries, however, could not recover from Thursday’s losses as the stock fell by 1.58 percent to end at Rs 1,012.85. Storming his way into telecom sector, Mukesh Ambani announced the launch of much-talked about Jio4G service, offering free voice calls and national roaming along with what he touted as the world’s lowest data tariff. Targeting 100 million customers in the shortest span of time, he told Reliance Industries’ annual general meeting that its wireless phone unit, Reliance JioInfocomm Ltd will offer data for Rs 50 per GB and monthly plan for as low as Rs 149. Voice calling for Jio users will be free for life, so will be national roaming. In the stock market, the benchmark Sensex ended higher by 108.63 points at 28,532.11.

Reliance Jio has partnered with several smartphone brands where Jio Preview Offer is available for a period of 90 days. Jio’s 4G-LTE services include unlimited HD voice calls and video calls, unlimited SMS, unlimited high-speed data and a host of Jio Premium apps such as JioPlay, JioOnDemand, JioBeats, JioMags, JioXpressNews, JioDrive, JioSecurity and JioMoney. Also Read - Airtel Rs 79 plan vs JioPhone Rs 75 prepaid plan compared: Which offers better value?

Also Read - Airtel Rs 79 vs Vodafone-Idea (Vi) Rs 79 prepaid plans compared: Data, calls, and other benefits

Also Read - Airtel introduces new Rs 79 prepaid plan in place of Rs 49 pack: Here are the benefits
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  • Published Date: September 3, 2016 12:37 PM IST



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