RIL has more legs to run even after hitting Rs 10 trn in market cap

Brokerages expect the stock to gain by as much as 29 per cent from current levels

Even though the Reliance Industries stock has gained over 30 per cent since September this year, the rally according to brokerages is not over yet. The latest trigger is the announcement of a price hike by its telecom subsidiary, Reliance Jio. The telecom arm raised tariffs by up to 35 per cent, which is expected to boost its revenues and average revenue per user (ARPU) by 22 per cent in FY21.

Despite the price hikes, analysts say Jio's tariffs are at a discount of up to 20 per cent to incumbents, which should help the company to maintain its competitive position