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Telecom Shares Fall After Launch of Reliance Jio Phone
Shares of the telecom majors lost after the launch of the new intelligent feature phone by Mukesh Ambani
The already disrupted telecom industry after the launch of Jio services is set to again see a strain as the Mukesh Ambani is leaving no stone unturned to monetize. And in its new move at the 40th AGM meet in Mumbai, he announced the launch of intelligent feature phone in India.
Analyst say that the move is a highly calculated one as Rs. 1500 for three years and free voice calling through out would brings shivers among industry players. There is a subsidy element in it.
Some of the analysts view that the launch is an experiment and is primarily targeted at tier-II and tier-III cities.
Meanwhile, seeing the competition the launch of an affordable phone from Reliance Jio would bring, other telecom majors fall in trade. Idea Cellular is down by over 6% to 89.3 and Bharti Airtel has fallen by 3% to trade at 407 on the BSE at 12:47pm.
RIL shares are trading higher by 3% at 1576.65 on the BSE
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