NSE: RELIANCE Share Price boost at Rs.3,129.85 High today: Reliance Industries’ shares saw a significant boost after Jio Telecom announced a hike in their tariff plan prices by 20%. This move was seen positively by the market, leading to an increase in the Reliance share prices, Reliance Industries Ltd the parent company of Jio Telecom.
The tariff hike is expected to increase Jio’s average revenue per user (ARPU), directly boosting the company’s revenue and profitability.
RELIANCE Share Price boost today
Higher tariffs translate to improved profit margins for Jio, which is a key factor influencing investor confidence.
The telecom sector had been facing pressure due to intense competition and low tariffs. The price hike by Jio was seen as a step towards industry consolidation and improved profitability, leading to increased investor interest.
Several brokerage firms raised their target prices for Reliance Industries shares after the tariff hike announcement, further fueling the positive sentiment.
Overall, the tariff hike by Jio Telecom was a significant catalyst for the boost in Reliance share prices. It signaled a positive shift in the telecom sector and reinforced investor confidence in the company’s growth prospects.