Jio recharge prices will be increased too after Airtel, Vodafone raise tariffs

20 Novembre, 2019, 10:26 | Auteur: Auguste Feret
  • A rickshaw puller speaks on his mobile phone in front of advertisement billboards belonging to telecom companies in Kolkata India

A day later Reliance Jio, which had disrupted the mobile phone services market by introducing predatory pricing, said it will follow suit in the next few weeks.

After introducing an interconnect usage charge (IUC) last month, the Mukesh Ambani-led company has reportedly now chose to hike its tariffs for both its phone call and internet services.

Vodafone Idea gained 34.68 percent to close at Rs 6.02 on the BSE, on top of 21.5 percent rally in the previous session. Neither of the companies mentioned the quantum of the proposed tariff hikes.

While Airtel said that, "The telecom sector is highly capital intensive with fast-changing technology cycles that require continuing investments".

Vodafone Idea now provides monthly mobile services at starting price of Rs 24 without data and Rs 33 for plans with data service.

The ongoing telecom crisis is set to hit the customers hard with two of the country's largest telcos - Bharti Airtel and Vodafone - deciding to hike tariffs from December 1 after they posted historic losses on account of provisioning for the AGR pending dues. From a dozen in March 2016, the number of players in the industry has dwindled to mere five - Reliance Jio, Vodafone Idea, Bharti Airtel, BSNL and MTNL.

Meanwhile, Jio added 69.83 lakh new users to its network in September this year while Vodafone Idea and Bharti Airtel lost over 49 lakh users, according to TRAI data.

Kemba Walker with Another Clutch Performance as Celtics Improve to 10-1
LeBron James recorded 33 factors and 12 helps in the Los Angeles Lakers' 122-101 victory in opposition to the Atlanta Hawks. Atlanta was blown out in Los Angeles for the second consecutive night after losing by 49 to the Clippers on Saturday.

Stowaways found in refrigerated container bound for UK
A number of ambulances arrived at the port and sniffer dogs were being used on the ship to search for any other stowaways. The ferry departed from Vlaardingen, a small city on the outskirts of Rotterdam which is home to Europe's largest port.

Australia's Westpac accused of 23 million money laundering breaches
Westpac says it self-reported the failure to report a large number of worldwide funds transfer instructions to AUSTRAC. Mr Morrison said despite the controversies, the banks needed to continue supporting home buyers and small businesses.

The firms posted huge quarterly losses because of an adverse Supreme Court judgement last month that upheld the Centre's broader definition of revenue, based on which it calculates levies on telecom operators.

Vodafone Idea has over 300 million customers in India.

"The acute financial stress in the telecom sector has been acknowledged by all stakeholders and a high level Committee of Secretaries headed by the Cabinet Secretary is looking into providing appropriate relief". Airtel's monthly plan starts at Rs 24 onward, while schemes with data begin from Rs 35. The telco listed several commitments to support the objectives of "Digital India".

According to a Live Mint report, telecom prices in India are now the cheapest in the world.

Jio said that it will work with the government to ensure that the telecom industry continues benefitting Indian consumers and it will stay compliant with regulations.

For Bharti, the above calculation on a consolidated basis could mean 25 percent estimated jump in EBIDTA estimates which for free cash flow (FCF) positive company should further aid valuations, Motilal Oswal said.

While having equalweight rating on the stock, Morgan Stanley raised target price on Bharti Airtel to Rs 410 from Rs 360 as company is well positioned in the sector both from a leverage & strategy perspective.

Conseillé:



Populaire

Cats new trailer hits, and the internet is still 'terrified'
Cats , directed by Tom Hooper and choreographed by Andy Blankenbuehler, is set for a December 20 theatrical release. The screenplay is by Lee Hall and Hooper, based on Old Possum's Book of Practical Cats by T.S.

La 'tolérance zéro' n'est pas prévue pour l'alcool au volant
D'autres, comme l'Estonie, la Norvège, la Suède et la Pologne, applique une limite de 0,2 g/L pour tous les conducteurs. Mais lundi, Matignon dément, indiquant à l'AFP que cela " n'est pas envisagé par le gouvernement ".

WSL: Derby pleasure for Arsenal, Everton
For Sunday's visit of Manchester United to Kingsmeadow, the crowd of 4,790 was a WSL high for a game not played in a large stadium usually used by the men's team.

Unpredictable Sondland faces questions about Trump, Ukraine
Eisenberg", Vindman said, referring to John Eisenberg, the top lawyer at the National Security Council. He and Ms Williams were among the USA officials who listened in during the call.

Bruins' Patrice Bergeron misses second straight game with injury
The Bruins entered the game in New Jersey in first place in the Atlantic Division, with 29 points. Marchand set up the unlikely duo for goals 14 seconds apart in the first period for a 2-0 lead.

Navy SEAL Eddie Gallagher faces potential discharge, senior USA defense official says
The president also ordered the full pardon of Major Mathew Golsteyn, who was facing murder charges for killing an unarmed Afghan. Critics said Trump's moves undermined military justice and sent a message that battlefield atrocities would be tolerated.

Netflix Nabs Chinatown Prequel Series from Robert Towne, David Fincher
Chinatown is getting a prequel! He will be working with the film's writer, Robert Towne on this project. Fincher executive produced House of Cards and directed a handful of episodes of the show.

2 professeurs de chimie interpellés pour avoir produit de la "meth" — Arkansas
Dans un portrait réalisé en 2014 par le journal de l'université, Bradley Rowland se disait d'ailleurs fan de la série. L'article en question avait pour titre " Le Heisenberg d'Henderson ", le surnom du prof de chimie de Breaking Bad .

Taylor Swift Cleared To Perform Old Songs At 2019 American Music Awards
Swift is to be honoured with the Artist of the Decade Award at the AMA's this Sunday, November 24, broadcast from 8pm ET on ABC. Taylor Swift onstage during the 2018 American Music Awards .

Gareth Southgate says England 'further ahead' than after last qualification campaign
England scored 37 goals in Euro 2020 qualifying and Marcus Rashford is excited about what the team can do at the tournament proper.