Prayesh Jain of IIFL told CNBC-TV18, "We have a buy recommendation on Reliance Industries. With respect to telecom business, we were thinking only on the broadband side of the business, the content part and the handset, these can be real material. Possibly if we start working out numbers for Reliance Jio, assuming the market share it gains in various aspects of the businesses now, possibly the breakeven would be earlier and these all things will have to be worked out as of now."
"Quite a few things that has changed from an analyst perspective in this AGM from the Jio side of the business, that all needs to be factored in. That is the reason you are seeing some uptick in the stock price because the Jio side of the business is better than what we were expecting," he said.
Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.
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