Shares of Bharti Airtel and Vodafone Idea were seeing contrasting fortunes after the latest data from the telecom authority showed that Reliance-backed Jio further consolidated its grip on the Indian market.
What Happened: The latest statistics from the Telecom Regulatory Authority of India (TRAI) showed that Jio and Airtel gained subscribers in the month of January, now holding a combined 98% market share, while Vodafone was lagging, continuing to lose more customers.
Reliance Jio gained around 4.2 crore wireless subscribers in January, as per the latest data from TRAI released on Monday. In contrast, Vodafone Idea experienced a setback, losing 15 lakh subscribers during the same period. Bharti Airtel saw modest growth, adding 7.5 lakh subscribers.
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With the addition of these new subscribers, Jio’s total mobile user base reached around 46.4 crore, while Airtel’s reached 38.2 crore by the end of January. The loss in subscribers for Vodafone reduced its total mobile user base to 22.1 crore.
This marks the highest number of wireless subscribers added by Reliance Jio in the past year. Previously, the addition of 3.9 crore wireless subscribers was the highest recorded in a month, which occurred in July 2023 when Vodafone Idea lost over 1.3 crore subscribers.
Price Action: Airtel’s share price ticked up 0.21% to ₹1,219.95 near the start of trade while Vodafone shares dropped 1.07% to ₹13.85.
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