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Its pricing and implied value in the ARPU (average revenue per user) bundle.
"Before they (the players) decide on a strategy, they won't be reacting in haste." Jio will bring in a differentiation not in quality upfront but in the package they offer to the customer, he said. Jio will be perceived to bring in more value to the consumer, he added.
Regaring Jio launch, he said that it will be important for the company to look beyond its branded smartphone Lyf. "They won't be able to drive compatibility basing it on their own branded smartphone." Voice over LTE is working, he said. Jio is here to stay as they have resources to keep pumping.
He is overweight on Bharti Infratel and underweight on Bharti Airtel. Even if data revenue growth is not exciting, data volume growth is good, he said justifiying his bet on Bharti Infratel. "Bharti Infratel will be a play on data volumes," he said. He has a target price of Rs 440 for Bharti Infratel and Rs 335 for Bharti Airtel.
Among IT stocks, his pecking order remains the same with Infosys being the top pick. "We aren't going to be judging the company by one bad quarter," he said, adding that it will bounce back.
Tech Mahindra's valuations look compelling enough for a long time, he said.
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