Mukesh Ambani's Reliance Jio tariff pulls down shares of telecom companies

Bharti Airtel fell 6.4 per cent, while Idea Cellular plunged nearly 12 per cent, the most in a decade, on fears that Jio's new plan will erode revenues and margins

Shares of telecom companies fell on Friday, a day after Reliance Jio Infocomm launched a plan targeting post-paid users.

The S&P BSE Telecom index dropped 4.25 per cent, the most in seven months, even as the Sensex rose 0.82 per cent, or 289.52 points, to 35,535.79. Bharti Airtel, the country’s biggest telecom operator, fell 6.4 per cent, while Idea Cellular plunged nearly 12 per cent, the most in a decade, on fears that Jio’s new plan will erode revenues and margins.

Jio on Thursday unveiled an unlimited post-paid plan for Rs 199, with attractive rates for international