In the Indian market Telecom Company Airtel and GeoThere is a direct confrontation between. Shares of Airtel and Vodafone-Idea (Vi) fell sharply on Wednesday. While Reliance’s shares have strengthened and closed. Because Reliance Jio has announced the coolest five postpaid plus plans.
Shares of Airtel fell 10 percent on Wednesday. The stock touched a low of Rs 423.95. While the business closed with a decline of 8.81 per cent at the end. Shares of Voda-Idea are down 14.05 per cent.
That being said, the announcement of Reliance Jio’s superb postpaid plans has led to a decline in Airtel and Voda shares. Geo’s new plans are to test Airtel and Voda-Idea.
Reliance Jio has announced new postpaid plans ranging from Rs 399 to Rs 1499. These Geo postpaid plans include free subscriptions to Netflix, Amazon Prime Video and Disney Plus Hotstar. At the same time, customers will get some benefits.
Geo Postpaid Plus will be available through Geo stores and home delivery from September 24th. Geo is also offering Geo Apps services along with 6500+ live TV channels, video content, 50 million songs and 300+ newspapers. The new Geo Postpaid plans will also come with a family plan for the whole family. There will be a debt of Rs 250 for each connection. It will also have the benefit of data rollover up to 500 GB and WiFi calling in India and abroad.
Apart from this, the AGR payment case is also the reason for the pressure on the shares of Airtel and Voda Idea. By the end of this financial year, telecom companies will have to pay at least Rs 12,921 crore in AGR balances. 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.