Reliance Industries’ stock tanks 23 pc from its July high
The stock of Reliance Industries Limited (RIL), India's largest company by market capitalisation, has slipped by 23 per cent from its highest level in July this year.
The Telecom Regulatory Authority of India (Trai) recently revealed that the Reliance Industries’ Jio added 4.68 million customers in March, taking its total user-base at 387.51 million.
Vodafone Idea and Bharti Airtel, on the other hand, lost 6.35 million and 1.26 million subscribers respectively in March, the data showed on Monday. In February, Vodafone Idea had lost 3.5 million users, whereas Bharti Airtel had added 922,946 subscribers.
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The youngest telco, Reliance Jio now has the largest market share with 33.37 per cent in its pocket, whereas Bharti Airtel’s share has come down to 28.21 per cent and Vodafone Idea continues to struggle with its small share of 27.5 per cent.
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According to the data, state-owned Bharat Sanchar Nigam (BSNL) gained 95,073 users in March as compared to 439,318 in the preceding month.
The data also showed that the telephone subscribers have come down by 0.24 per cent at 1,177.97 million in the month under review from February’s 1,180.84 million.
The urban telephone subscription, on the other hand, stands at 656.46 million in March from February’s numbers which were at 661.23 million. However, the rural subscription jumped to 521.51 million during the same period.
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