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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.

SI Reporter  |  Mumbai 

Mobile users, Airtel
The telecom sector that was beset with slow growth and heavy costs in the 1980s is a good learning ground Photo: Reuters

Shares of services provider are under pressure with the hitting a fresh 52-week low, while falling 6% in intra-day trade on Friday after Infocomm (RJio) announced a new unlimited 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 services are offered and consumed, just like Jio did with its prepaid services, 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 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. offers similar benefits for Rs 389. In case, the other telcos follow Jio, average revenue per user will come down,” the Business Standard report suggested. CLICK HERE TO READ FULL REPORT.

Among the individual stocks, has dipped 6% to Rs 388 on the BSE, while 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 On comparison, the S&P Sensex was up 0.33% or 116 points at 35,363 at 10:45 am.

First Published: Fri, May 11 2018. 10:47 IST