RIL stock rallies on Jio tariff hike, gains 2.5% to hit all-time high

After falling just short of the Rs 10-trillion mark intra-day, the Reliance Industries (RIL) stock ended with gains of 2.5 per cent. 

Gains in the stock, which hit its all-time high, came on the back of expectations that tariff hikes by Reliance Jio would lead to higher cash flows and boost its consolidated bottom line. 

Foreign brokerage Credit Suisse believes that Jio’s tariff hike could bring an annual cash flow in excess of $1.5 billion. 

Analysts at the research firm highlight that the decision to undertake tariff hikes has come earlier than expected, and will lead to an earnings per share increase in