Bharti Airtel shares fall 2% after Jio makes domestic calls free from January 1

Reliance Jio Infocomm said it will make domestic calls free from January 1 when interconnect usage charges on such services end.

December 31, 2020 / 01:53 PM IST
Representative image | Source: Unsplash

Representative image | Source: Unsplash

 
 
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Shares of Bharti Airtel fell almost 2 percent in intraday trade on BSE on December 31 after Reliance Jio Infocomm said it will make domestic calls free from January 1 when interconnect usage charges (IUC) on such services end.

"Honouring its commitment to revert off-net domestic voice-call charges to zero, as soon as IUC charges are abolished, Jio will once again make all off-net domestic voice calls free, starting 1st January 2021. On-net domestic voice calls have always been free on the Jio network," Reliance Jio said in a statement.

Read more: Reliance Jio to make domestic calls free from January 1

However, shares of Vodafone Idea jumped almost 7 percent while those of MTNL and Tata Communications rose up to 4 percent.

At 1340 hours, the BSE telecom index was 0.38 percent down at 1,273 with nine stocks in the green and five in the red.

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Shares of Sterlite Technologies, with a loss of over 2 percent, were the top losers among the pack. Shares of ITI and Reliance Communications ,too, were in the red.

Disclosure: Reliance Industries Ltd., which also owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Moneycontrol News
first published: Dec 31, 2020 01:52 pm

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