Shares of Telecom company such as Airtel and Idea dropped after Reliance Chairman Mukesh Ambani announced tariff plans of Reliance Jio at Reliance Industries 42nd AGM.
Shares of Bharti Airtel were seen trading at Rs 311, lower by 6.19 per cent on BSE at 12.29 pm IST. It touched an intra-day low of Rs 302 during trade.
Idea shares dropped 7.22 per cent to 52-week low at 85.00 during intra-trade.
At the AGM, Mukesh Ambani said that Reliance Jio 4G will offer free voice calls, zero roaming charges across India from September 5 to December 31, 2016 for its Jio customers.
Sensex, Nifty were seen trading flat.