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Idea, Airtel Tank Up To 9% on Reliance Jio's Lower Tariff Offers

Press Trust Of India

First published: September 1, 2016, 1:16 PM IST | Updated: September 1, 2016
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Idea, Airtel Tank Up To 9% on Reliance Jio's Lower Tariff Offers
Image Credit: Moneycontrol

New Delhi: Shares of Idea Cellular and Bharti Airtel plunged up to 9% on Thursday after RIL Chairman Mukesh Ambani announced free voice calling and cheaper data tariffs for Jio customers.

Idea Cellular tanked 9 per cent to Rs 85 -- its 52-week low on BSE.

Shares of Bharti Airtel dropped 8.99% to Rs 302.

Ambani also announced a 'free welcome offer' for Jio customers from September 5 till December 31. R Jio will offer users data services free for four months, after which it will offer 10 tariff plans starting at Rs 19 a day for occasional users, Rs 149 a month for low data users and Rs 4,999 a month for heavy data users.

At the RIL's 42th Annual General Meeting, the billionaire industrialist said Jio is targeting 100 million users in a shortest possible time.

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