Following the announcement of modifications to its prepaid prices by its Jio telecom company, Reliance Industries’ shares increased by over 2 percent in Tuesday’s trading. Positive brokerage commentary backed the advances. RIL’s shares continued their upward trajectory, rising 2.31 percent to Rs 1,413.60 on the NSE for the second consecutive day. The entry-level 1GB per day prepaid bundles that Reliance Jio offered for Rs 209 for 22 days and Rs 249 for 28 days are no longer available. After the change, the starting price for the effective entry plan has increased from Rs 249 to Rs 299 for 1.5GB per day for 28 days. Bharti Airtel and Vodafone Idea already charge Rs 299 for comparable 28-day plans, thus this decision brings Jio’s price into line with theirs. Less than 10% of Jio’s mobile revenues came from the Rs 249 pack, according to brokerage IIFL, and the 20% increase might directly increase overall income by less than 2%. However, according to CNBC-TV18, Axis Capital anticipates that the rate adjustments will increase Jio’s FY26E revenue and average revenue per user (ARPU) by 4-5 percent. Jio has discontinued its well-liked Rs 249 package (1GB per day for 28 days) and Rs 199 plan (1.5GB per day for 18 days), according to Morgan Stanley. The most affordable 28-day daily data plan now starts at Rs 299 as a result.
With a target price of Rs 1,690, domestic brokerages reaffirmed their “Buy” recommendation on Reliance. According to Citi, a prospective Jio listing may benefit significantly from the SEBI suggestion on large IPOs. Jefferies kept its “Buy” recommendation with a target price of Rs 1,670, pointing to Jio’s growing cash flows, retail’s consistent growth, and the oil-to-chemicals company’s ongoing investments in renewables. 2.21 lakh Reliance Industries shares valued at Rs 31.06 crore were traded on the BSE as of 10:30 am. Up till the time of publication, almost 45 lakh shares were traded on the NSE. Based on data from the BSE, the company’s market worth was around Rs 19.1 lakh crore.
