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Telecom stocks tumble as Jio steps-up data war

Telecom stocks tumble as Jio steps-up data war

Shares of Indian telecom service providers fell on Wednesday after Reliance Jio Infocomm Ltd cut tariffs to counter bigger rival Bharti Airtel Ltd's revision in data plans. Stepping up the data plans, Jio has announced a Republic offer which is lower than the other telcos. Under the new plan, users get 2GB daily data, instead of 1.5GB per day.

In addition to the revisions made to the above plans, Reliance Jio has also introduced a new Rs.98 plan for Jio Prime members.

Post the announcement, the stocks of Airtel tanked at 5.99 per cent and Idea cellular stocks declined to 5.58 per cent. Bharti Airtel had revised its plans earlier this week.

Jio's Rs 448 plan will offer users with 2GB daily data and 84 days validity.

The new recharge pack will be queued, and will come into effect once the current plan's validity runs out. Although, with the aggressive newly launched New Year and Republic Day Plans within the two weeks, the flagship marked himself again in the telecom market. However, starting January 26, the plan will offer 1.5GB daily data.

It has introduced a lower entry price-point for free voice and unlimited data (capped at 2GB) for 28 days at Rs 98.

Airtel vs Reliance Jio: Rs 399 plan Under the Rs 399 plan Airtel is giving unlimited local and STD calling, 100 SMS per day and 1GB 3G/4G data per day for the period of 84 days.

For example, the cheapest 1.5GB per day data plan costs Rs. 149, and gives free voice + 42GB high speed data, with a validity of 28 days. This means you can now enjoy a total of 56GB, 140GB, 168GB, and 182GB of high-speed data with these plans, respectively.

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