Bharti Airtel, Idea Cellular Share Prices Plunge Today On Jio Postpaid Announcement
Share prices of Bharti Airtel and Idea Cellular fell sharply today after Reliance Jio Infocomm unveiled a new post-paid plan. Jio, the telecom arm of Reliance Industries, introduced an unlimited domestic post-paid plan for Rs. 199 and international calling starting at 50 paise per minute, starting 15 May. Under the Jio’s post-paid offering all services such as voice, internet, SMS, international calling will be pre-activated. Shares of Idea fell as much as 12.9 per cent to Rs. 50.80 at day’s low while Bharti Airtel declined around 7.5 per cent. Reliance Jio’s entry into the telecoms sector…
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