Jio Users Face Network Outages, Majority Face Issues With Mobile Data
Upto 57% of users reported facing issues with their mobile network according to the website.
Jio mobile phone and internet serivce users saw a sharp spike in outages, with over 11,318 reports recorded on the DownDetector website on Monday.
Upto 57% of users reported facing issues with their mobile network. Around 32% of people reported problems with their Jio mobile phones and 11% stated that they were facing complications with their Jio Fibre broadband service, according to the website.
The highest amount of outage reports came in at 2:24 p.m. with 11,318 reports. The amount of complaints however went down to 280 by 3:35 p.m.
Reliance Jio also faced scrutiny from the Telecom Regulatory Authority of India, where it along with Bharti Airtel Ltd., was directed to clarify its classifications of 5G-based home Wi-Fi services. The regulator flagged concerns that users accessing high-speed internet over 5G Fixed Wireless Access, may have been or could be reported as “wireline” or “fixed-line” subscribers. This could potentially distort official broadband penetration data.
TRAI's directives came as Jio's wireline subscriber numbers surged last year, and dropped sharply after the regulator intervened, people in the know said.
Shares of Reliance Industries' closed 0.69% higher at Rs 1,437.80 apiece on the NSE, compared to a 0.92% rise in the benchmark Nifty 50. The stock has fallen 2.92% in the last 12 months and 18.29% on a year-to-date basis.
Out of 38 analysts tracking the company, 36 have a 'buy' rating on the stock, and two suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 8.3%.
