RELIANCE JIO OFFER BRINGS RIPPLES IN TELECOM SHARES

The series of new offers unveiled by Reliance Jio has created ripples in the share values of various other telcos. In the beginning of the year, Jio came up with Happy New Year Offer and recently it has announced one more new offer dubbed as " Republic Day Offer". To find out more about Happy new year offer (Click Here) & Republic Day Offer (Click Here).

Owing to the rising profits of new entrant and unleashing of attractive new offers, telecom stocks have tumbled up to 6.5 per cent. The shares of Bharti Airtel plunged 5.99 per cent to Rs 461.45 on BSE. Similarly, the shares of Idea dropped by 6.48 per cent to Rs 92.95 and Reliance Communications lost 2 per cent to Rs 28.60.

Idea shares were also under pressure amid earnings disappointment. Idea Cellular today posted deeper losses of Rs 1,284.5 crore for the quarter ended on December 31, 2017.

As a counter measure to various new offers from competitors, Reliance Jio has decided to offer 500 MB extra data to its subscribers using 1GB and 1.5GB per day data packs in a new offer "Jio Republic Day Offer" which will take effect from 26th January 2018. In addition, the ‘Republic Day offer’ will double the validity of Rs 98 pack to 28 days from the current 14 days from January 26 onwards, they said.

“Jio will always offer more value to its customers, and offer Rs 50 lower price than competition and 50 per cent more data on its plans. As part of Republic Day offer, all existing 1 GB per day packs enhanced to 1.5 GB per day, 1.5 GB per day packs enhanced to 2 GB per day,” sources added.

Bharti Airtel had recently introduced Rs 399 plan offering unlimited calls and 1GB 4G data daily with 84 days validity.