Shares of RIL fell by over 2 per cent today, wiping out Rs 9,559 crore from its market valuation, after Trai ordered its telecom arm Jio to withdraw a three-month 'complimentary' offer.
The stock dropped 2.28 per cent to end at Rs 1,405.55 on BSE. During the day, it lost 2.48 per cent to Rs 1,402.65.
At NSE, shares of the company slipped 2.21 per cent to close at Rs 1,406.60.
Led by fall in stock price, the company's market valuation plunged Rs 9,558.77 crore to Rs 4,56,983.23 crore.
On volume front, 6.73 lakh shares of the company were traded on BSE and over 72 lakh shares changed hands on NSE during the day.
RIL shares fell today after a six-session strong rally that witnessed the stock soaring by 15.5 per cent.
Trai ordered Reliance Jio to withdraw the three-month 'complimentary' offer of unlimited data usage and free calls on payment of a minimum Rs 303.
The order came days after Jio announced that it has clocked 72 million paid users and is extending its one-time Rs 99 payment membership programme Prime for 15 more days till April 15.
Reliance Jio said it accepts Trai's decision and is in the process of "fully complying" with the regulator's advice.
Jio, which is known for its disruptive offers and services, said it will be "withdrawing the three months complimentary benefits of JIO Summer Surprise as soon as operationally feasible, over the next few days".
"However, all customers who have subscribed to JIO SUMMER SURPRISE offer prior to its discontinuation will remain eligible for the offer," the company said in a statement.
Meanwhile, shares of other telecom players rose in an otherwise weak market.
Idea Cellular rose by 0.92 per cent and Bharti Airtel gained 0.83 per cent on BSE whose benchmark index Sensex dropped 0.74 per cent to close at a one-week low.
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