wordpress blog stats
Connect with us

Hi, what are you looking for?

Jio effect: Incumbent telecom stocks tumble after tariff plan announcement

Incumbent telecom operator's stock plunged following Reliance Jio's announcement of tariff plans. Jio said that over its LTE network, voice calls would be free and unlimited for all its customers and would charge Rs 50 per GB of data. Reliance Industries (RIL) shares were down 2.85% to Rs 1029.8. Interestingly, Network18, a Reliance comapny, saw its share price fall by 3.59% to Rs 44.35. - Airtel, India's largest operator with more than 230 million subscribers, saw it's stock fall to Rs 302 at around 12 PM after the announcement. Airtel's stock had opened from Rs 330.15. At the time of writing, Airtel's stock was down 6.89%. - Idea Cellular's share price was down 9.84% at Rs 84. The company's stock had opened at Rs 93.25. - Reliance Communications stock fell 8.63% to Rs 49.25. It's stock had opened at Rs 54.3. - Vodafone Group's share price fell to £225.38, a decline of 1.94%. Markets in the UK are yet to open. - Tata Teleservices fell 3.14% at Rs 6.17 and the stock had opened at Rs 6.49. - Interestingly, MTNL's stock was in the green following the announcement. MTNL's stock was up 2.33% to Rs 21.8. Other media stocks A look at some of the media companies' stock which have video streaming as a part of their strategy. - Eros International Media increased 1.15% to Rs 219.5 - Balaji Telefilms was up 1.36% to Rs 85.55. Note that these companies' stock are not directly related to Reliance but may be indirectly affected with…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ