Telecom stocks Reliance Communications, Bharti Airtel and Idea Cellular tumbled at 12:49 IST on BSE on intensified data war among the players after reports suggested that Reliance Jio has introduced Republic Day 2018 offers for its customers.
Idea Cellular (down 4.83% at Rs 94.60), Bharti Airtel (down 4.71% at Rs 467.80) and Reliance Communications (down 1.37% at Rs 28.80) declined.
Shares of Reliance Industries (RIL) were down 1.71% at Rs 964.90. Reliance Jio Infocomm (Jio) is a telecom subsidiary of RIL.
Meanwhile, the S&P BSE Sensex was down 47.42 points or 0.13% at 36,092.56.
Jio reportedly cut tariffs to counter bigger rival Bharti Airtel's revision in data plans, which would help it maintain its price leadership. Bharti Airtel revised its data plans earlier this week, reports added.
Jio entered India's telecom market in late 2016 and disrupted the space with free-voice and cut-price data plans, intensifying a data price war with existing incumbents.
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