mumbai reliance jios aggressive plans for its mobile services launch left a 2billion over rs 13000crore hole in the pockets of shareholders of its listed peers bharti airtel idea cellular and reliance communications sunil mittalled bharti was the biggest loser with its market capitalisation dipping over rs 8500 crore to rs 13 lakh crore followed by kumar mangalam birlaled ideas more than rs 3500crore loss to an mcap of about rs 33700 crore in percentage terms while the idea stock crashed over 10 to rs 84 rcom lost nearly 9 to rs 49 and the bharti stock tanked more than 6 to rs 311 only mtnl stock closed higher which was up over 1 at rs 22 at close of thursdays session on the bsedalal street investors fear that mukesh ambaniled reliance jios plans would soon start affecting finances of incumbent telecom services providers including the unlisted vodafone india if the incumbents do not cut tariffs to match jios levels customers may move to other networks offering lower rates said the director of an investment advisory firm according to ratings major crisil reliance jios price aggression is expected to increase pressure on both revenue growth and profitability of existing telcos operators will not only be forced to take a relook at their tariff structures and customer retention strategy but may also be forced to bid more aggressively in the forthcoming spectrum auctions especially in high revenuegenerating circles where they have limited capacity and spectrum to offer 4g services it said in a note additionally in the near term data traffic would migrate from incumbent operators networks to the free reliance jio network we expect ebitda earnings before interest taxes depreciation and amortisation margins for the industry to shrink by 250300 basis points 100 basis points 1 percentage point in 201617 and remain under pressure in the next fiscal as well it said the days session also witnessed a slide in the ril stock which closed nearly 3 lower at rs 1029 mainly because of investors fears about the execution risks emanating from reliance jios aggressive launch plans and also if such a stance will lead to losses in the initial years though the top line from telecom business for ril will start trickling in however a big concern arises on timelines of achieving operating breakeven in context of tariff policy deployed said dharmesh kant head retail research motilal oswal securities on petrochemical and refining front business management maintained its guidance while oil gas continues to be a drag he saidbrokers are expecting the ril stock to remain under pressure in the short to medium term with investors closely monitoring the rollout and effectiveness of reliance jio and also the response from its competitors to the emerging scenario in the telecom space