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Thursday, September 24, 2020

Chaos in the market with this new offer from Reliance Jio; Vodafone and Airtel stocks crash, benefiting consumers

Chaos in the market with this new offer from Reliance Jio; Vodafone and Airtel stocks crash, benefiting consumers



In the Indian market, there is direct competition between telecom companies Airtel and Jio. Shares of Airtel and Vodafone Idea fell sharply on Wednesday.

Shares of Reliance closed higher. Because Reliance Jio has announced five special postpaid plans.

Chaos in the stock market

Shares of Airtel fell 10 percent in the stock market on Wednesday. The stock touched a low of Rs 423.95. At the end of the day, it was down 8.81 per cent. At the same time, Vodafone-Idea shares were down 14.05 per cent. In the end, it dropped by about 10 percent.

Shares of Airtel and Vodafone are said to have declined due to the announcement of Reliance Jio's superb postpaid plans. Airtel and Vodafone Idea are going to face a tough challenge with new Jio plans.

Announcement of five new postpaid plans



Let me tell you that Reliance Jio has announced five new postpaid plans ranging from Rs 399 to Rs 1,499. These Jio postpaid plans will offer a free subscription to Netflix, Amazon Prime Video and Disney Plus Hotstar. Along with this the customers will also get some more benefits.

There are so many benefits

Jio Postpaid Plus will be available through Jio stores and home delivery from September 24th. Jio is also offering Jio app services with 650+ live TV channels, video content, 50 million songs and 300+ newspapers. New Jio postpaid plans will also include family plans. You will have to pay Rs 250 for each connection. You will also get the benefit of data rollover and WiFi calling up to 500 GB in India and abroad.

Companies under pressure from AGR payment case

Apart from this, the pressure on the shares of Airtel and Vodafone Idea is also due to the AGR payment case. By the end of this financial year, telecom companies will have to pay at least Rs 12,921 crore as AGR arrears. Of this, 80 per cent will have to be paid to Bharti Airtel and Vodafone Idea. Reliance Jio is the only company with no AGR outstanding.

Soece:- VTV gujarati



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