New Delhi, May 11 (PTI) Shares of Idea Cellular and Bharti Airtel tumbled up to 12 per cent due to heavy selling after rival Reliance Jio announced a new post-paid plan. Also Read - Jio maintains lead in 4G download speed, Vi in upload in May: TRAI
Idea Cellular plummeted 11.83 per cent to end at Rs 51.45 on BSE. During the day, it dived 12.93 per cent to Rs 50.80. Also Read - Airtel Rs 456 vs Jio Rs 447 prepaid plan: Check validity, data, voice calls, and other benefits
Bharti Airtel shares dropped 6.44 per cent to close at Rs 385.70. Intra-day, it slumped 7.53 per cent to Rs 381.20. The stock was the worst hit among the 30-Sensex blue chips. Also Read - JioPhone 5G, budget Jio laptop, Jio 5G service, more announcements expected on June 24
The market capitalisation (m-cap) of Airtel slumped Rs 10,612.28 crore to Rs 1,54,179.72 crore and those of Idea dropped Rs 3,006.79 crore to Rs 22,429.21 crore.
Reliance Jio yesterday announced a new post-paid plan with monthly rental of Rs 199, and an ISD calling service at a starting price of 50 paise per minute.
The company also announced international roaming service with outgoing calls at Rs 2 per minute onwards.
“‘Zero-Touch’ post-paid plan to offer unlimited benefits at Rs 199 per month, international calling starting at 50 paise per minute and international roaming at Rs 2 for voice, data and SMS for all Jio customers,” Reliance Jio said in a statement yesterday.
The subscription for the plan will start from from May 15.
This is published unedited from the PTI feed.