Published On : Thu, Sep 1st, 2016

Jio impact: Bharti Airtel, Idea slip over 5%, Idea hits 52-week low


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Mumbai: Shares of Bharti Airtel and Idea Cellular lost up to 8% on the bourses after Mukesh Ambani, Chairman of Reliance Industries at the company’s annual general meeting today announced the launch of Reliance Jio 4G services offering free voice calls for Jio customers and zero roaming charges across India from September 5 to December 31, 2016.

Idea Cellular has dipped 8% to Rs 86.10, also its 52-week low on the BSE after the news report. Bharti Airtel slipped 5.5% to Rs 313, as compared to 0.03% rise in the S&P BSE Sensex.

On the other hand, Reliance Industries (RIL) was trading higher by nearly 1% at Rs 1,065, after hitting high of Rs 1,073 on the BSE in intra-day trade. It touched a low of Rs 1,050 in early morning trade. The stock is currently quoting nears to 52-week high of Rs 1,090, touched on January 1, 2016 in intra-day.