The telecom war between Bharti Airtel and Reliance Jio heats up as Airtel offers its users double the data for the same price in updated broadband plans to beat Reliance Jio's upcoming JioFiber offerings.

Airtel had missed estimates and saw its quarterly profits fall 69% in its March quarter after the Jio bloodbath, The company has focused on cost controls to keep its EBIDTA strong, but Airtel's data revenues have fallen by over 18% yoy, and will remian under pricing pressure. While the company's Africa operations are healthy, the battle in India is intensifying now as the price war moves to additional services like broadband. 

IRB Infrastructure Developers’ Infrastructure investment trust (IRB InvIT) fund debuted today with a muted gain of 1.2% before falling below its issue price of Rs. 102 per share, a quiet debut for a much hyped infrastructure instrument. The IPO was subscribed 8.57 times. This is a disappointing development for potential investors in infrastructure companies, who are watching the InvIT mechanism closely for enthusiasm and investor interest.

Stock in spotlight: L&T Finance Holdings (L&TFH), which turns up in the stock screener for stocks with high analyst upside and good growth. 

Photo of the day: A man sells air coolers on a hot summer day in Ahmedabad, India. Amit Dave/Reuters