Shares of telecom majors Bharti Airtel and Vodafone Idea Ltd (VIL) were under pressure on Wednesday after Reliance Jio announced a range of postpaid plans with several benefits, to take on both Airtel and Vodafone Idea in the postpaid segment.
Around 1.50 p.m., shares of Bharti Airtel on the BSE were trading at Rs 433.50, lower by Rs 37.55 or 7.97 per cent from its previous close.
Vodafone Idea shares were trading at Rs 9.32, lower by 93 paise or 9.07 per cent from its previous close.
With its competitive pricing in the prepaid segment, Jio has already eroded the subscriber base of both the incumbent players over the past four years.
The latest offerings under 'JioPostpaid Plus' announced on Tuesday, with free subscription to Netflix, Amazon Prime and Disney+ Hotstar and family plan for the entire family at Rs 250 per connection along with data rollover up to 500 GB and Wifi-Calling in India and abroad among others, is likely to start a tariff war in the postpaid segment.
The monthly tariff charges offered under 'JioPostpaid Plus' are Rs 399, Rs 599, Rs 799, Rs 999 and Rs 1,499 and all the packs come with individual offers and data limit according to the users' requirement.
--IANS
rrb/sn/bg
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU