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Reliance Industries share rises 3% after Jio adds maximum subscribers in October

Reliance Industries' share has risen 13% since the beginning of the year. Stock price of the company has gained 2.9% in the last 2 days of trade

twitter-logoBusinessToday.In | December 24, 2020 | Updated 16:55 IST
Reliance Industries share rises 3% after Jio adds maximum subscribers in October
Reliance Industries stock closed 2.58% higher at Rs 1,993 on BSE. Market capitalisation of the firm rose to Rs 12,64,021.09 crore

Reliance Industries Ltd (RIL) share price jumped nearly 3% on BSE in Thursday's trade after TRAI data showed that Reliance Jio was the top mobile operator with a subscriber base of 406.36 million, followed by Airtel, which had 330.28 million customers in October.

According to data provided by the Telecom Regulatory Authority of India, Reliance Jio, added 2.22 million new mobile customers during the reported month. Bharti Airtel and Reliance Jio continue to maintain a stable active subscriber market share while Vodafone Idea reported a loss of subscriber base.

Airtel rose 1% month-on-month in October, with as many as 3 million users in addition, taking the total to 330.28 million customers in October

Vodafone Idea comes third with 292.83 million subscriber base, followed by BSNL with 118.88 million customers.

According to the TRAI data, Reliance Jio topped in terms of wireless broadband users as its base stood at 406.36 million followed by Bharti Airtel at 167.56 million, and VIL at 120.49 million.

Following the news, Reliance Industries' share price opened at Rs 1,950.80 and later gained 2.82% intraday on Thursday to Rs 1,998.65 against the previous close of Rs 1,943.80. Reliance Industries' share price stands higher than 5, 20 and 200-day moving averages but lower than 50 and 100-day moving averages.

Reliance Industries' share has risen 13% since the beginning of the year. Stock price of the company has gained 2.9% in the last 2 days of trade.

Reliance Industries stock closed 2.58% higher at Rs 1,993 on BSE. Market capitalisation of the firm rose to Rs 12,64,021.09 crore.

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