Indian Telecom Stocks Drop As Jio Offers Discount on Top Plan
Vodafone Idea Ltd and Bharti Airtel Ltd fall 2.9 pct and 1.8 pct, respectively.
Billionaire Mukesh Ambani’s Reliance Jio Infocomm offers a 100-rupee discount on its top-selling 399-rupee plan.
Vodafone Idea, the entity formed after the consolidation of Vodafone and Idea Cellular in a bid to counter Jio, touches its lowest level since March 17, 2009 , S&P BSE Telecom index falls as much as 2.3 pct to a more than 7-week low
As of last close, Vodafone Idea down 57.28 pct this year, while Bharti Airtel is down 28.5 pct. – Reuters
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