Reliance shares rise nearly 3% on Jio tariff changes, positive brokerage calls

Reliance shares rise over 2% on tariff changes.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Reliance Industries shares rose nearly 3 percent in Tuesday’s trade after its Jio telecom unit announced changes in its prepaid tariffs. The gains were supported by upbeat brokerage commentary.

On the NSE, RIL stock rose as much as 2.84 percent to Rs 1,421, extending gains into a second straight session.

Reliance Jio has discontinued its entry-level 1GB per day prepaid packs priced at Rs 209 for 22 days and Rs 249 for 28 days. Following the revision, the effective entry plan now begins at Rs 299 for 1.5GB per day for 28 days, up from Rs 249 earlier. The move aligns Jio’s pricing with Bharti Airtel and Vodafone Idea, which already charge Rs 299 for similar 28-day plans.

Brokerage IIFL said the Rs 249 pack contributed less than 10 percent to Jio’s mobile revenues, and the 20 percent hike could directly lift overall revenue by under 2 percent. Axis Capital, however, expects the tariff changes to boost Jio’s FY26E revenue and average revenue per user (ARPU) by 4-5 percent, reported CNBC-TV18.

Morgan Stanley said that Jio has removed its popular Rs 249 plan (1GB per day for 28 days) and Rs 199 plan (1.5GB per day for 18 days). With this, the lowest-priced daily data option for 28 days now starts at Rs 299.

Domestic brokerages reiterated a ‘Buy’ rating on Reliance with a target price of Rs 1,690. Citi said the SEBI proposal on large IPOs could have meaningful positive implications for a potential Jio listing.

Jefferies maintained its ‘Buy’ call with a target price of Rs 1,670, citing improving cash flows in Jio, steady growth in retail and continued investments in renewables in the oil-to-chemicals business.

As of 10:30 am, 2.21 lakh shares of Reliance Industries worth Rs 31.06 crore changed hands on the BSE. On the NSE, more than 45 lakh shares were traded till the time of publishing. The company’s market value stood at more than Rs 19.1 lakh crore, according to BSE data.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.