Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

RIL Shares Cross Rs 1,500-mark, Market Cap Now at Rs 9.5 Trillion

RIL shares rallied on Tuesday after Reliance Jio’s rivals Vodafone Idea Ltd and Bharti Airtel Ltd decided to increase voice and data tariffs with effect from 1 December 2019.

Trending Desk

Updated:November 19, 2019, 3:57 PM IST
facebookTwitter Pocket whatsapp
BSE
A file photo of the Bombay Stock Exchange (BSE).

Reliance Industries Ltd (RIL) shares jumped over 3% on Tuesday, crossing the Rs 1,500-mark for the first time. This also makes the company the first among listed entities to hit a market capitalisation of Rs 9.5 trillion.

At 2:45 pm, RIL shares were trading at Rs 1,502.55, up 3%, after hitting the day’s high of Rs 1,511.45. Notably, the stock has risen by over 31% in the past one year compared with nearly 11% rise in the Nifty 50 index.

RIL shares rallied on Tuesday after Reliance Jio’s rivals Vodafone Idea Ltd and Bharti Airtel Ltd decided to increase voice and data tariffs with effect from 1 December 2019. Analysts expect the increase in tariffs by competitors could help Jio acquire more customers as India is considered to be a price-sensitive market. So far, Reliance Jio has not announced any price hike like its rivals.

RIL’s earnings has showed strong growth of late, mainly supported by its telecom (Reliance Jio Infocomm) and retail (Reliance Retail) businesses. RIL’s retail business has posted a seven-fold increase in revenue and a 14-fold increase in profit in the last six years.

Meanwhile, Jio has claimed that it is acquiring more than 10 million new customers every month.

RIL had earlier said that it has received strong interest from strategic and financial investors in its consumer businesses. “The company will induct leading global partners in these businesses in the next few quarters, and move towards listing of both these companies within the next five years, which will result in significant value unlocking,” brokerage firm Anand Rathi noted. Anand Rathi has a ‘buy’ call on the RIL stock with a target price of Rs 1,610.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 309.05 6.11
Tata Motors 176.70 1.93
SBI 332.55 3.32
TCS 2,071.25 2.49
Axis Bank 752.00 4.14
Company Price Change %Gain
Indiabulls Hsg 309.30 6.09
Reliance 1,582.45 0.95
Tata Motors 176.65 1.90
SBI 332.70 3.39
Yes Bank 46.65 2.87
Top Gainers
Company Price Change %Gain
Axis Bank 752.00 4.14
Vedanta 149.40 3.75
Hindalco 208.25 3.38
SBI 332.55 3.32
Coal India 196.25 3.21
Company Price Change %Gain
Axis Bank 752.00 4.21
Vedanta 149.35 3.75
SBI 332.70 3.39
TML-D 72.80 3.34
Maruti Suzuki 7,221.35 3.20
Top Losers
Company Price Change %Gain
Dr Reddys Labs 2,821.50 -2.90
Bharti Airtel 427.80 -2.47
Zee Entertain 279.70 -1.62
Kotak Mahindra 1,692.75 -1.33
Bajaj Auto 3,232.90 -0.88
Company Price Change %Gain
Bharti Airtel 427.50 -2.46
Kotak Mahindra 1,691.95 -1.38
Bajaj Auto 3,233.05 -0.86
Asian Paints 1,744.00 -0.40
HUL 2,005.30 -0.06

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results