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Indian telecom carriers face price target cut on Jio threat

Reliance Chairman Mukesh Ambani took the wraps off the Jio network, touting free calls and rock-bottom data prices

Reuters  |  Mumbai 

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India's established telecom players saw their share prices dip further on Friday, after analysts slashed price targets on some of them, and warned that the launch of new rival Reliance Industries' Jio venture is set to be much more disruptive than earlier imagined. "Free voice is key to making Reliance Jio's integrated plans much more compelling cost-wise than those of peers," stated JPMorgan analyst Viju George in a note to clients. Reliance Chairman Mukesh Ambani, India's richest man, took the wraps off the Jio network on Thursday touting free calls ...

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First Published: Fri, September 02 2016. 10:23 IST