Idea, Airtel tank up to 9% on RJio's lower tariff offers

Idea Cellular tanked 9 percent to Rs 85 -- its 52-week low on BSE.

PTI| Last Updated: Sep 01, 2016, 13:18 PM IST
Idea, Airtel tank up to 9% on RJio's lower tariff offers

New Delhi: Shares of Idea Cellular and Bharti Airtel plunged up to 9 percent Thursday after RIL Chairman Mukesh Ambani announced free voice calling and cheaper data tariffs for Jio customers.

Idea Cellular tanked 9 percent to Rs 85 -- its 52-week low on BSE.

Shares of Bharti Airtel dropped 8.99 percent to Rs 302.

Ambani also announced a 'free welcome offer' for Jio customers from September 5 till December 31. R Jio will offer users data services free for four months, after which it will offer 10 tariff plans starting at Rs 19 a day for occasional users, Rs 149 a month for low data users and Rs 4,999 a month for heavy data users.

At the RIL's 42th Annual General Meeting, the billionaire industrialist said Jio is targeting 100 million users in a shortest possible time.