Airtel, Idea shares down after RJio's offer announcement

Telecom stocks came under selling pressure today, led by Airtel which lost 4 per cent, after Reliance Jio Chairman Mukesh Ambani announced a slew of offers, including 20 per cent more data than any rival from April.

Shares of Bharti Airtel declined by 4.02 per cent to end at Rs 360.55 on BSE. During the day, it lost 4.27 per cent to Rs 359.60.

Idea Cellular went down by 0.37 per cent to close at Rs 108.30 after falling 1.88 per cent to Rs 106.65 in intra-day.

Shares of Reliance Industries Ltd on the other hand rose by 1.36 per cent to close at Rs 1,088.25.

Reliance Jio has crossed the 100 million customers mark in 170 days of launch, Ambani said today as he announced a slew of offers, including 20 per cent more data than any rival from April.

Reliance Jio, he said, will continue to offer free voice calls and national roaming post April 1, when its promotional free voice and data offer ends.

For existing customers, he announced that the current benefits will continue under a new tariff plan for another 12 months by payment of Rs 303 per month and a one-time joining fee of Rs 99.