Shares of Idea Cellular and Bharti Airtel tumbled up to 12 per cent today as telecom operator Reliance Jio announced a new post-paid plan.
The scrip of Idea tanked 12 per cent to Rs 51.30 on BSE.
Shares of Airtel too slumped 6.69 per cent to Rs 384.65. The stock was the worst hit among the 30-bluechip stocks.
Reliance Jio yesterday announced a new post-paid plan with monthly rental of Rs 199, and an ISD calling service at a starting price of 50 paise per minute.
The company also announced international roaming service with outgoing calls at Rs 2 per minute onwards.
"'Zero-Touch' post-paid plan to offer unlimited benefits at Rs 199 per month, international calling starting at 50 paise per minute and international roaming at Rs 2 for voice, data and SMS for all Jio customers," Reliance Jio said in a statement yesterday.
The subscription for the plan will start fromMay 15.