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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Sensex falls over 250 points ahead of Oct F&O Expiry

stock market downThe Indian stock market closed down for the second straight day, dragged lower by financial stocks such as Axis Bank after the lender reported a quarterly profit slump and on the back of muted second quarter earnings by some companies.

Besides banks, Tata Group stocks extended their fall after the abrupt ouster of Chairman Cyrus Mistry on Monday, lower global crude oil prices and dampened sentiment ahead of the October month F&O expiry on Thursday.

Among the 50-stocks of Nifty, Idea Cellular, Kotak Mahindra Bank, Hero MotoCorp, Bharti Airtel, Maruti Suzuki and HUL were among the gainers on NSE, whereas Axis Bank, Tata Motors DVR, Tata Steel, Tata Motors, ICICI Bank, Bharti Infratel and Tech Mahindra were among the losers today.

Finally, the BSE Sensex ended with a loss of 255 points at 27,837. The BSE Sensex opened at 28,051, touched an intra-day high of 28,050.55 and low of 27,760.

The NSE Nifty closed with a loss of 76 points at 8,615. The NSE Nifty opened at 8,657 hitting a high of 8,657.30 and low of 8,597.

Heavy selling pressure was witnessed in banking, metal, financial, industrial, pharma, and power stocks, while telecom and consumer durables stocks were among the gainers.

On the economy front, Union Minister Nirmala Sitharaman expressed disappointment at India’s rank remaining low on the ease of doing business front. The efforts and reforms undertaken by the Centre and states have not been adequately captured in the ranking released by the World Bank, Nirmala Sitharaman said.

On the global front, Asian markets closed in red. The Nikkei 225 closed marginally higher. Hong Kong’s Hang Seng index and Shanghai Composite index closed in red.

European markets were trading in red on Wednesday, as oil prices extended losses and investors digested a slew of mixed earnings reports. The FTSE 100 and the CAC 40 were trading lower by 2% each. DAX slipped 1.02%.

The India VIX (Volatility) index was down 0.20% at 14.4525. Out of 1,481 stocks traded on the NSE, 982 declined and 457 advanced today.

The rupee was trading up one paise at 66.82 per US dollar.

Axis Bank tanked 8% to Rs 486 on the BSE. The bank has posted a net profit of Rs 319 crore for the quarter ended September 30, 2016 as compared to Rs 1915.6 crore for the quarter ended September 30, 2015.

Cadila Healthcare dropped 4.8% after the pharma company posted a net profit after taxes, Minority Interest & Share of Profit/Loss of Associates of Rs 338 crore for the quarter ended September 30, 2016 as compared to Rs 475 crore for the quarter ended September 30, 2015.

Suzlon Energy gained 0.48% after the company signed a Share Subscription and Shareholders’ Agreement with Ostro Energy Private Limited for setting-up of a solar power project under Prathamesh Solarfarms Limited, presently a wholly owned subsidiary of the Company, and eventually sale of Prathamesh.

Navneet Education inched up 1% at Rs 110 on the BSE. The company announced the acquisition of Chicago-based Britannica’s Indian curriculum business. Under the agreement, the current Britannica business unit will become an independent company with Navneet.

ITC Ltd closed marginally higher on the BSE. The company posted a net profit of Rs 2,500 crore for the quarter ended September 30, 2016 as compared to Rs 2,262.5 crore for the quarter ended September 30, 2015.

Bharti Airtel Ltd zoomed 2%. The company has posted a net profit of Rs 1460 crore for the quarter ended September 30, 2016 as compared to Rs 1536 crore for the quarter ended September 30, 2015.

A total of 102 stocks registered a fresh 52-week high in trade today, whereas seven stocks touched a new 52-week low on the NSE.

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Results to watch out for! Adani Power, Axis Bank, Idea Cellular in focus

Results todayThe results which are expected today are Axis Bank, Adani Enterprises, Idea Cellular, Adani Power,Bharti Infratel, Greenply Industries, Indiabulls Real Estate, Reliance Capital, Rane (Madras),Tata Metalliks, Gujarat State Fertilizers & Chemicals,Kirloskar Ferrous Industries, Rallis India, K.P.R.Mill, Tata Metaliks, Thyrocare Technologies, Swaraj Engines, Lloyds Metals and Energy, Mahindra CIE Automotive, Navin Fluorine International, Supreme Petrochem, Parrys Sugar Industries, Maruti Securities,Muthoot Capital Services.

Adi Finechem, Ador Multiproducts, Ador Welding, Ajmera Realty & Infra, Atishay, Balaji Amines, Bharat Bhushan Share & Commodity Brokers, Aditya Birla Money, Capital Trust, Chemo Pharma Laboratories, Coromandel Engineering Company, GeeCee Ventures, Gujarat Intrux, Indian Metals & Ferro Alloys, Indag Rubber, Johnson Controls-Hitachi Air Conditioning India, Jointeca Education Solutions, KDJ Holidayscapes and Resorts, Kingfa Science & Technology (India), National Fittings, Phoenix Township, Ruchira Papers, Saurashtra Cement, Shree Hari Chemicals Export, SNL Bearings, Span Diagnostics, Shree Precoated Steels, Upsurge Investment & Finance, Vatsa Educations, Wendt (India).

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