RIL gains as Jio announces new unlimited plan

Reliance Industries rose 1.37% to Rs 1,515.70 at 9:25 IST on BSE after the company's telecom subsidiary Reliance Jio Infocomm announced that Jio Prime Members can enjoy unlimited services for 3 months with Rs 399 plan.

The announcement was made after market hours yesterday, 11 July 2017.

Meanwhile, the S&P BSE Sensex was up 77.99 points or 0.25% at 31,825.08.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 4.07 lakh shares in the past one quarter. The stock had hit a high of Rs 1,519.70 so far during the day, which is a 52-week high. The stock hit a low of Rs 1,496 so far during the day. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 11 July 2017, advancing 11.96% compared with the Sensex's 1.55% rise. The stock had also outperformed the market over the past one quarter, gaining 8.81% as against the Sensex's 6.58% rise. The scrip had also outperformed the market over the past one year, advancing 50.92% as against the Sensex's 14.91% rise.

The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.

Reliance Industries' (RIL) telecom subsidiary Reliance Jio Infocomm (Jio) announced that Jio Prime Members can enjoy unlimited services for 3 months with Rs 399 plan. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services.

The new set of plan benefits will be available from 11 July and will be applicable for all new as well as existing subscribers. As part of this unlimited benefit, customers can enjoy 1GB data per day at 4G speed followed by unlimited at 128 kbps, unlimited local, STD and national roaming voice calls and unlimited national SMS.

Over and above the Prime exclusive plans, Jio is introducing new Every Day More Value (EDMV) plans. These plans provide 20% more value than competitors' best plans. It's Jio's solemn promise to always offer better value for the best price, RIL said.

Earlier this year, in the month of March, Jio introduced JIO PRIME membership program. Millions of customers enrolled into this membership. These founding members of Jio will also be special and they will continue to get industry-leading tariffs, RIL said. With the introduction of EDMV plans, Jio customers no longer have to worry if they are getting the best value with Jio, it added.

On a consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016.

RIL is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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