Reliance Industries hits fresh 9-year high

Reliance Industries (RIL) gained nearly 5% to Rs 1,380, its fresh 9-year high on the BSE in intra-day trade, after Reliance Jio Infocomm (Jio), a subsidiary of RIL, on Friday said it had notched an unprecedented 72 million paid subscribers, and extended by a fortnight its deadline for migrating other subscribers to its paid offer.

“In just one month, over 72 million (and still counting!) Jio customers have signed up for JIO PRIME, making it one of the most successful customer privilege programmes anywhere in the world,” RIL said in a press release.

Jio also announced the Jio Summer Surprise for its JIO PRIME members. Every JIO PRIME member, when they make their first paid recharge prior to 15th April using Jio’s Rs 303 plan (or any higher value plan), will get services for the initial 3 months on a complimentary basis.

The paid tariff plan will be applied only in July, after the expiry of the complimentary service. The Jio Summer Surprise is the first of many surprises for JIO PRIME members, it added.

At 10:02 am; the stock was up 4% at Rs 1,370, its highest level since January 21, 2008 on BSE. A combined 5.99 million shares changed hands on the counter on BSE and NSE so far.

Thus far in the calendar year 2017, RIL has outperformed the market by gaining 28% as compared to 12% rise in the S&P BSE Sensex.

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