Voda Idea, Airtel stocks dive as Jio rings in new postpaid plans
The development comes at a time when Vi and Bharti Airtel have been talking of the need to raise prices urgently to repair the industry’s financials. Jio is the sole profitable telco in India.
Synopsis
Analysts said Jio’s latest postpaid offerings are likely to have a comparatively limited impact on Bharti Airtel as against Vi’s, which may face heavier customer and revenue losses, amid continuing concerns over its quality of services and weaker digital engagement.
Kolkata: Shares of Vodafone Idea (Vi) plunged more than 14% and Bharti Airtel’s nearly 10% in intraday trade on Wednesday amid concerns around customer and revenue losses, a day after Reliance Jio Infocomm unleashed aggressive postpaid plans, making a concerted bid for the higher paying customers of India’s older operators.Just over four years since its launch in September 2016, Jio, on Tuesday, had unveiled a gamut of offerings for postpaid
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