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Last Updated Friday May 26 2017 12:42 PM IST

Airtel, Idea shares down after Reliance Jio's offer announcement

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Airtel, Idea shares down after Reliance Jio's offer announcement

New Delhi: Telecom stocks came under selling pressure Tuesday, led by Airtel which lost 4 percent, after Reliance Jio chairman Mukesh Ambani announced a slew of offers, including 20 percent more data than any rival from April.

Shares of Bharti Airtel declined by 4.02 percent to end at Rs 360.55 on BSE. During the day, it lost 4.27 percent to Rs 359.60.

Idea Cellular went down by 0.37 percent to close at Rs 108.30 after falling 1.88 percent to Rs 106.65 in intra-day.

Shares of Reliance Industries Ltd on the other hand rose by 1.36 percent to close at Rs 1,088.25.

Reliance Jio has crossed the 100 million customers mark in 170 days of launch, Ambani said Tuesday as he announced a slew of offers, including 20 percent more data than any rival from April.

Reliance Jio, he said, will continue to offer free voice calls and national roaming post April 1, when its promotional free voice and data offer ends.

For existing customers, he announced that the current benefits will continue under a new tariff plan for another 12 months by payment of Rs 303 per month and a one-time joining fee of Rs 99.

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