Bharti Airtel slashes 3G, 4G rates; Jio launch eyed

Telecom operator, Bharti Airtel takes another step backward to resist the so called competition from launch of Reliance Jio. Bharti Airtel has cut the rates of its 3G and 4G services by 80 per cent to nearly Rs 51 per GB.

The stock of Bharti Airtel opened lower and fell as much as 9 points to Rs 335.35. The stock closed at Rs 339.85 with 1.24 per cent losses on Aug 29. The stock broke its multiple support at 339 levels after falling for four consecutive sessions. The stock may see further downside below 339 levels.

Bharti Airtel will provide concessions to those subscribers who recharge with Rs 1498 to avail 1GB of 3G or 4G mobile internet usage valid for 28 days. Post exhaustion of 1GB limit, further 1 GB recharges of 3G and 4G will be done in Rs 51 for 12 months with no limit on number of recharges within that period. Current rate of the said recharge is Rs 259 for 28 days. The company will launch a similar plan in lower denomination of Rs 748 where customers will get the recharge done in Rs 99 for 6 months.

Earlier, Airtel had offered 67 per cent additional data in existing 3G and 4G schemes. It also made voice calling free including roaming under a plan of Rs 1199. Other major peers have followed Bharti Airtel in cutting their package costs, thus creating a price war, from which diligent customers stand to gain.