Active Stocks
Mon Mar 18 2024 15:55:53
  1. Tata Steel share price
  2. 149.60 5.69%
  1. Tata Motors share price
  2. 972.20 2.75%
  1. ITC share price
  2. 417.40 -0.51%
  1. State Bank Of India share price
  2. 730.70 -0.18%
  1. ICICI Bank share price
  2. 1,082.00 0.32%
Business News/ Market / Stock-market-news/  Airtel, Idea shares slump after Reliance Jio new offer announcements
BackBack

Airtel, Idea shares slump after Reliance Jio new offer announcements

Airtel shares closed 4% lower, Idea shares lost 1.88% in intra-day trading, after Reliance Jio boss Mukesh Ambani announced new data offers and extended free voice calls

Airtel shares declined by 4.02% to end at Rs360.55 on BSE, after Reliance Jio new offer announcements. Photo: Pradeep Gaur/MintPremium
Airtel shares declined by 4.02% to end at Rs360.55 on BSE, after Reliance Jio new offer announcements. Photo: Pradeep Gaur/Mint

New Delhi: Telecom stocks came under selling pressure on Tuesday, led by Airtel which lost 4%, after Reliance Jio chairman Mukesh Ambani announced a slew of offers, including 20% more data than any rival from April.

Shares of Bharti Airtel declined by 4.02% to end at Rs360.55 on BSE. During the day, it lost 4.27% to Rs359.60. Idea Cellular went down by 0.37% to close at Rs108.30 after falling 1.88% to Rs106.65 in intra-day.

Jio Prime membership: Here’s how it fares against Airtel, Vodafone 4G plans

Shares of Reliance Industries Ltd, on the other hand, rose by 1.36% to close at Rs1,088.25.

Reliance Jio has crossed the 100 million customers mark in 170 days of launch, Ambani said on Tuesday as he announced a slew of offers, including 20% more data than any rival from April.

ALSO READ | Mukesh Ambani unveils new Reliance Jio data plans, including Prime membership

Reliance Jio, he said, will continue to offer free voice calls and national roaming post 1 April, when its promotional free voice and data offer ends.

For existing customers, he announced that the current benefits will continue under a new tariff plan for another 12 months by payment of Rs303 per month and a one-time joining fee of Rs99.

Reliance Jio to charge for data services from 1 April: Mukesh Ambani

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 21 Feb 2017, 07:29 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App