Telecom stocks to hog the limelight post Reliance Jio launch

India’s richest businessman and Reliance supremo has made the Telecom sector put on their thinking caps once again with the launch of its new product Jio on September 5. Company’s Jio network was officially launched on September 5, and long ques were seen to get the sim cards of the company which is offering free 4G data and life time free voice calls till  December 31, 2016.

On the other hand, Telecom stocks will likely be the focus of September 6. The scrips of Idea, Bharti Airtel, Reliance Communication saw the wrath when Mukesh Ambani in his 42nd AGM announced its launch.  On September 1, these three companies collectively lost the market capitalisation of over 13000 crores.  
Company’s aggressive strategy of providing free data, voice calling and claim of offering cheapest 4G services in the world has certainly brought the Telecom sector in a tizzy.

Meanwhile, Idea Cellular on September 6, opened at Rs 84, marginally down by 0.06 per cent; Bharti Airtel too has opened at Rs 316, down by 0.92 per cent.

The other major telecom companies planning on providing limited coverage on highway and rural areas is the only counter attack at the moment that they have to withstand against Jio's wave.