Mukesh Ambani, the chairman and managing director of Reliance Industries Ltd. announced free voice calls and data tariffs that are “lowest anywhere in the world”, as he unveiled the launch strategy for Reliance Jio.
The aggressive pricing strategy rattled stocks of incumbent telecom players like Bharti Airtel Ltd. and Idea Cellular Ltd., with both falling over 7 percent each. But analysts have raised concerns on whether Jio's strategy will reduce the returns for RIL shareholders. But shareholders who BloombergQuint's Sajeet Manghat spoke to are unfazed by the freebies and rock bottom rates.
Shareholders added that the strategy to offer free calls and cheap rates will help bring more users into the Jio ecosystem.
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