India's Jio to hike tariffs on some of its plans from July 3
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 27 2024
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Should l Buy ?
Source: reuters
- Reliance Industries' Jio Infocomm Tariff Hike: Jio Infocomm, a telecom business of Reliance Industries, announced an increase in prices for some prepaid and postpaid plans starting July 3.
- Price Adjustment Details: The base plan price will rise to 189 rupees from 155 rupees, and nineteen other plans will see a tariff increase ranging from 13% to 22%.
- Industry Context: Competitors Vodafone Idea and Bharti Airtel have not raised tariffs since 2021, making this move significant in the Indian telecom market.
- Telecom Spectrum Auction: The tariff hike coincides with India's auction of telecom spectrum valued at around $11.5 billion, granting companies rights over airwaves for a specific period.
- Jio's Spectrum Purchase: Jio acquired spectrum worth 9.74 billion rupees during the auction, which was the lowest compared to its competitors Bharti Airtel and Vodafone Idea.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
