Airtel and Idea stocks fall after Reliance Jio cuts tariffs


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. Jio, the telecom arm of Reliance Industries Ltd, said on Tuesday the revision was "a response to Airtel's tariff changes", which would help it maintain "its price leadership". Bharti Airtel, India's No.

1 mobile carrier, revised its data plans earlier this week. Shares of Airtel declined as much as 6.22 percent to 461.5 rupees.....

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