Airtel stock at a new high as Jio's launch plan takes a hit

NEW DELHI, Sept. 17 -- The global chip shortage that has disrupted a swathe of firms from carmakers to switch producers has hit smartphones with Reliance Jio postponing the launch of the much-promoted JioPhone Next. But this has brought relief to competitor Bharti Airtel. Last week, Reliance Industries Ltd (RIL) announced that JioPhone Next, earlier planned for launch on 10 September, will now be introduced around the Diwali festival, which falls in early November. Citing that the global chip shortage could take more than a year to resolve, analysts at Motilal Oswal Financial Services Ltd warn of further delays.

This is sentimentally positive for Jio's close rival Bharti Airtel. Shares of the firm touched a fresh 52-week high of '697 on Mo...