RJio new postpaid plan effect; Idea hits 52-week low, Airtel down 6%

Bharti Airtel dipped 6% to Rs 388 on the BSE, while Idea Cellular hit a fresh 52-week low of Rs 53.45, slipped 8% in intra-day trade.

Shares of telecom services provider are under pressure with the Idea Cellular hitting a fresh 52-week low, while Bharti Airtel falling 6% in intra-day trade on Friday after Reliance Jio Infocomm (RJio) announced a new unlimited postpaid plan on Thursday with national roaming, international calling and international roaming plans among others.

The all new JioPostpaid will be available for subscription starting 15th May, 2018. JioPostpaid marks a paradigm-shift in the way postpaid services are offered and consumed, just like Jio did with its prepaid services, Reliance Jio Infocomm (“Jio”), a subsidiary of Reliance Industries said in a press release.

Jio’s Rs 199 plan offers 25 GB of data along with free calling and free subscription of Jio apps. The plan, at almost half the price of what others are offering, is going to hit the old operators further.

“Airtel’s plan that can be matched with Jio starts at Rs 399, which offers 20 GB of data, unlimited calling and free subscriptions to Airtel TV and Wynk music. Vodafone’s plan, too, starts at Rs 399, which gives 20 GB of data and unlimited calling along with Vodafone Play services. Idea Cellular offers similar benefits for Rs 389. In case, the other telcos follow Jio, postpaid average revenue per user will come down,” the Business Standard report suggested. CLICK HERE TO READ FULL REPORT.

Among the individual stocks, Bharti Airtel has dipped 6% to Rs 388 on the BSE, while Idea Cellular hit a fresh 52-week low of Rs 53.45, slipped 8% in intra-day trade.  Reliance Industries, however trading 0.5% higher at Rs 986 on the BSE. On comparison, the S&P BSE Sensex was up 0.33% or 116 points at 35,363 at 10:45 am.