德银-印度-电信行业（个股-Jio）-Jio盈利势头正劲，但定价策略值得关注-20180122-14页

DeutscheBankMarketsResearchAsiaIndiaTelecommunicationsIndustryIndianTelecomsDate22January2018CompanyUpdateJiomaintainsmomentumonprofits,butpricingstanceisaconcernBharticlosestheproductgapbutatacost________________________________________________________________________________________________________________DeutscheBankAG/HongKongDeutscheBankdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Thus,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.DISCLOSURESANDANALYSTCERTIFICATIONSARELOCATEDINAPPENDIX1.MCI(P)083/04/2017.SrinivasRao,CFAResearchAnalyst(+65)64234114srini.rao@db.comPeterMilliken,CFAResearchAnalyst(+852)22036190peter.milliken@db.comPei-YuLooResearchAss