ZEE Business
ZEE BUSINESS
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Market
    • Mutual Funds
    • Commodity
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Companies News

Jio's new data plans help Reliance Industries shares touch 10-year high

Reliance Industries shares jumped after its telecom arm Jio announced new 4G data plans on Tuesday. Morgan Stanley had set a target of Rs 1500 per share for RIL but the company is now trading higher than that.   

  • Twitter
  • Facebook
  • GPlus
Jio's new data plans help Reliance Industries shares touch 10-year high
Reliance Industries Ltd (RIL) Chairman Mukesh Ambani. Photo: IANS
By ZeeBiz WebTeam
Updated: Wed, Jul 12, 2017
11:28 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Jet fuel demand in India to soar as domestic air travel takes off Jet fuel demand in India to soar as domestic air travel takes off
Reliance Jio offer too good to resist for Japan too? Telco bags largest Samurai loan ever by Asian firm Reliance Jio offer too good to resist for Japan too? Telco bags largest Samurai loan ever by Asian firm
Reliance Industries share price rally as it seeks another acquisition Reliance Industries share price rally as it seeks another acquisition
Mukesh Ambani, Lakshmi Mittal on Bloomberg Billionaires Top 100 Index; see who else made it Mukesh Ambani, Lakshmi Mittal on Bloomberg Billionaires Top 100 Index; see who else made it
Reliance Industries share price dips 2% as arm sells assets in Eagle Ford shale for $100 mn Reliance Industries share price dips 2% as arm sells assets in Eagle Ford shale for $100 mn

Key Highlights: 

  • Reliance Industries touch over Rs 1,500 per piece
  • RIL surpasses Morgan Stanley's target of Rs 1,506 per piece
  • RIL surpasses TCS in market valuation

Reliance Jio (RJio) has once again helped Reliance Industries Ltd (RIL) to scale new peaks after the telecom arm announced new 4G plans to take on Airtel, Vodafone and Idea Cellular. 

On Wednesday, RIL shares touched a new record of Rs 1,525 per piece – a level which was last seen on January 08, 2008.

RIL also surpassed even Tata Consultancy Services (TCS) in terms of market capitalisation and now holds the top spot. 

According to BSE data, market cap of RIL now stands at Rs 491,799.32 crore, followed by TCS at Rs 473,192.75 crore, HDFC Bank at Rs 432,553.96 crore, ITC at Rs 401,507.54 crore and HDFC at Rs 261,473.48 crore.

Reliance Jio on Tuesday announced that its Jio Prime members can enjoy unlimited services for three months with Rs 399 plan. At the same time, the earlier launched Rs 309 plan will provide two months of unlimited Jio services.

Newly announced offers have become effective from July 11, and is be applicable for all new as well as existing subscribers.

ALSO READ: Reliance Jio announces unlimited services for Rs 399 for 3 months

With this blockbuster performance, RIL has also surpassed the target of Morgan Stanley which had revised a new price target of Rs 1,506 per share.

Mayank Maheshwari, Rakesh Sethia and Amruta Pabalkar, analysts at Morgan Stanley had said,  “RIL stock has underperformed peers by 60ppt in the past four years as its returns lagged peers'. This is set to change as earnings start from energy projects and telecom monetisation gathers pace. We raise our price target to factor in higher energy earnings and increased clarity on telecom investments."

In a span of four years, RIL has invested about $25 billion in Reliance Jio. 

ALSO READ: 5 reasons why Morgan Stanley thinks Reliance Industries shares will reach Rs 1506-level.

Considering, the data tariff, pricing war under the telecom industry presently, MS believes the investment in RJio would reach at $34 billion by end of FY18. 
 

TAGS:
Reliance IndustriesRILRIL's share priceReliance JioRJio data offersRIL's market capTCS market capInfrastructureTelecomMarketsSensexNiftyBSEMorgan Stanleys target for RILJio Prime MembersJio offersJio plansJio 4g plansRJio
Next Article

NEXT STORY: JioFiber plans revealed: 100GB at 100Mbps speed free for 3 months

RELATED NEWS
Jet fuel demand in India to soar as domestic air travel takes off Jet fuel demand in India to soar as domestic air travel takes off
Reliance Jio offer too good to resist for Japan too? Telco bags largest Samurai loan ever by Asian firm Reliance Jio offer too good to resist for Japan too? Telco bags largest Samurai loan ever by Asian firm
Reliance Industries share price rally as it seeks another acquisition Reliance Industries share price rally as it seeks another acquisition
Mukesh Ambani, Lakshmi Mittal on Bloomberg Billionaires Top 100 Index; see who else made it Mukesh Ambani, Lakshmi Mittal on Bloomberg Billionaires Top 100 Index; see who else made it
Reliance Industries share price dips 2% as arm sells assets in Eagle Ford shale for $100 mn Reliance Industries share price dips 2% as arm sells assets in Eagle Ford shale for $100 mn

LATEST NEWS

Goa port banks on Adani, JSW to tide over mine ban

CBSE 10th result 2018: Big relief for students, board offers compensation

UPSEE 2018 admit card released: Check aktu.ac.in to download your hall ticket

TCS vs Infosys snapshot: A comparison between two IT giants

Huawei P20 Pro, P20 Lite launch gets India deadline: Price, specs and features here

Exclusive! On ATM cash crisis, 2600 entities under scanner; govt targets those responsible

Pay much more at fuel stations now; petrol price in India hit a 55-month high, diesel rate at lifetime high now

Good news! RBI MPC sees economic revival in 2018

FAST MONEY: Exide Industries, Hindalco among key intraday trading calls for today

7th Pay Commission: Good news for Indian Railways employees has this big impact elsewhere

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Contact Us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved