US brokerage Jefferies, which snipped the telco's valuations by 2% to $88 billion, said Jio's 2Q results were "operationally weak," and the moderation in valuations was due to "lower-than-expected revenues and higher-than-expected interest costs." It went on to add that "a repeat of its 2Q subscriber performance in 3Q might dash hopes of a tariff hike in the near/medium term."from Industry-Economic Times
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