Jio has raised its tariffs by 12.5-25%, reflecting a significant hike amid changing market dynamics.
Over the past 5.5 years, Jio and Airtel have steadily increased their market shares, while Vodafone Idea and BSNL have seen declines.
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Jio's market share has surged from 21.6% to 39.7% during this period. Antique Stock Broking previously forecasted that major telecom operators such as Airtel and Jio would increase tariff rates after the 2024 Lok Sabha elections.
"While challenges do exist as Bharti has chosen a different 5G rollout path versus key competitors, we believe it is unlikely to dent Bharti's subscriber base or growth significantly. We also believe valuations do not reflect the emerging highly positive macro telecom sector environment," Antique Stock Broking noted in the report.
The report further added that Bharti Airtel could benefit the most with average revenue per user rising to 286 rupees by FY 27.