Idea Cellular is the top loser on the BSE since opening bell. The stock lost almost 4% at Rs.62.60; comparatively, Bharti Airtel did not lose as much – it went down 2% at Rs.373.65 and has recovered from there to rise to Rs.379.
The listed telecom stocks are once again shaken up as the giant and market disruptor, Reliance Jio announced more data plans with more benefit for its App users.
Jio will now provide 1.5GB per day additional high-speed 4G data to every user who recharges with any daily-recurring data pack. This additional data benefit will be available till June, 30, 2018 and it collides head-on with Airtel's new prepaid recharge launches.
Jio has also introduced a slew of offers for its app users, which will be available from today.
The telecom companies are as such reeling under the onslaught of Jio and such offers make it tough for the others to improve margins. But for consumers like us, we can only urge the companies to continue with this ongoing war as we are the biggest beneficiaries.