Ambani’s 25-minute speech cost Bharti, Idea Rs 2,200 crore 

Chairman of Reliance Industries, Mukesh Ambani announced the free services of Reliance Jio till 31st March, 2017.

During his speech of 25 minutes, other telecom companies Idea, Bharti Airtel and Reliance Communications got affected. 8% shares of these telecom companies came down.

Airtel faced a loss of Rs. 2200 crore:
• when Ambani started giving his speech, the share of Airtel was Rs. 324 but after the speech rate fell down to Rs. 318 due to which they have to bear a loss of 2276 crore rupees.

Idea faced a loss of Rs. 792 crore:
• Shares of idea came down from Rs. 76.60 to Rs. 74.20 due to which a loss of 792 crore rupees occurred.

Key points Ambani discussed in his speech:
• He told that the new customers of Jio will get free services till March 2017.
• Same services for the present customers too which were supposed to be expired on 31st Dec, 2016.
• Free data, free calls and wifi services will be provided.

jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu jammu news jammu news jammu news jammu news jammu news jammu news jammu news jammu newsjammu news jammu news jammu news jammu news jammu news jammu news jammu news jammu newsjammu news jammu news jammu news jammu newsjammu news jammu news jammu news jammu news jammu news jammu news jammu news jammu news

Leave a Reply

Your email address will not be published. Required fields are marked *