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Reliance Jio 4G Creates Storm in Telecom Sector

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Ending an era of paying for voice calls and spending money on high charges for data services, the launch of Reliance Jio has been a matter of key concern for Reliance’s competitors in the telecom sector.

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Bharti Airtel Ltd, Idea Cellular Ltd and Reliance Communications Ltd lost a combined Rs.13,165.55 crore in market value on Thursday after Reliance Industries Ltd (RIL) chairman Mukesh Ambani announced aggressively low prices for RIL’s Jio mobile phone services, live mint reported. Bharti Airtel fell 6.4% to close at Rs.310.70, Idea Cellular ended at Rs.83.70, down 10.5%, and Reliance Communications fell 8.81% to Rs.49.15 on a day the benchmark Sensex edged down 0.1% to 28,423.48 points.

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