Jio Prime membership opens on March 1: New tariff plans revealed

jio_prime_benefits_1487678505608.pngReliance Jio is all set to begin enrolling customers on to its Jio Prime membership plans from March 1, effectively offering 1 GB high-speed 4G data and free calls for Rs 10 a day for an year.
The membership fee for Jio Prime will be Rs 99 per year. The unlimited free voice, free data offered in the ‘Happy New Year’ scheme will be available to Jio Prime members for another 12 months for a price of Rs 303 per month. Jio Prime members will also get the bouquet of Jio media services till March 31, 2018.
Besides this plan, Jio plans to roll out two new monthly tariff plans at Rs 149 and Rs 499 which offer 2GB and 60 GB data along with free voice, respectively, according to note by brokerage firm CLSA.
“As per our discussion with channel partners and retailers, Reliance Jio has revealed more tariff plans under the “Jio Prime Program” that requires one-time membership charge of Rs 99 to be paid before March 31, 2017,” CLSA said in the note.

“For Jio Prime Members, two more monthly plans will be available other than the Rs 303 plan announced last week. The cheapest monthly plan is Rs 149 which offers free domestic voice and 2GB data without any daily limits. Another plan offers 60 GB (2GB daily data allowance) and unlimited voice for Rs 499,” it said.
Jio will also offer long duration plans for Rs 999/1999/4999/9999 with validity for 60/90/180/360 days and data allowance of 60/125/350/750GB without any daily limits, according to CLSA.

Spelling out the fine print of Jio new tariff plans, the CLSA note stated that while subscription to Jio apps is available to all these plans, the company has limited free voice up to the first 1,000 minutes/month, after which only calls within the Jio network will be free.

Also, “Jio Prime membership and its benefits could be cancelled unless a minimum recharge of Rs 149 is made every month,” it said.

Jio Tariff After 31st March
For users who fail to sign up for the Jio Prime subscription before March 31, Jio will announce standard plans that will not only match the tariff plans of its rivals but will also offer 20 percent more data compared to its peers, Reliance Industries Chairman Mukesh Ambani had said on February 21.
Aggressive Push

In his address last week, Ambani had said that Jio crossed 100 million subscribers. Jio will be keen on holding on to these subscribers while adding more users. For this, the telecom company is offering commission rates higher than the industry norm, CLSA said.

“Our discussion with channel partners reveals that Jio has also offered much higher commission rates of over 6 percent on recharge versus industry average of sub-3 percent. While we find the tariffs quite attractive for data users, high commission rates should provide an added push for high membership of Jio Prime and allow Jio to start with a high chargeable subscriber base,” the CLSA note stated.
io had crossed 50 million subscribers in just 83 days of its launch, adding at an average rate of 6 lakh subscribers per day and surpassing the subscriber addition rates of global giants like Facebook, WhatsApp and Skype. Announcing its third quarter results, Reliance Industries had said that Jio has garnered 72.4 million subscribers as of December 31, 2016.

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Nifty touches 8950, Sensex & Midcap strong; auto stocks in focus

nifty-updates-capitalheight11:33 am IPO: Avenue Supermarts, the operator of supermarket retail chain D-Mart, has set a price band of Rs 295-299 for its upcoming Rs 1,870-crore initial public offering (IPO).
The issue will open on March 8 and close on March 10, 2017.
Avenue Supermarts has reserved 50 percent portion of public issue for qualified institutional buyers and out of which, 60 percent may be allocated to anchor investors.

The company said 15 percent portion of the total issue size is reserved for non-institutional investors and the rest 35 percent for retail investors.
Grey market brokers say that the issue is quoting at a premium of Rs 170-180 in the unofficial market.

11:20 am Indiabulls Real in focus: Indiabulls Real Estate’s arm has suspended work on its luxury residential project called Sky Suites that it was developing in Mumbai’s business district of Lower Parel. The project is being set up by Indiabulls Sky Suites, a subsidiary of IBREL arm Indiabulls Properties Investment Trust.

The company was forced to suspend work on the project after the Airport Authority of India placed severe height restrictions on the project, asking it to keep the height of the residential tower at 163 metres against 327 metres that the company had asked for.

Since the height restriction will limit the total area that can be built, the company is now forced to have a re-look at the revenue model of the project.
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CH Bank Nifty Market Trend for 01-March-2017




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