The launch of Reliance Jio turning out to be the worst nightmare for Bharti Airtel, and Idea. After the Ambani’s 45-minute speech Shares of Bharti Airtel dropped 6.37 per cent on BSE. Idea Cellular plunged 10.48 per cent to Rs 83.70. Within 45 minutes of Mukesh Ambani speech, Bharti lost Rs 12,000 crore in market capitalisation, while Idea Cellular eroded Rs 2,800 crore in market value.
Source: The Economic Times