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RIL share rises after Jio announces two special offers

Jio working with Reliance Foundation will provide 300 free minutes of outgoing calls per month (10 minutes per day) for the entire period of the pandemic, to JioPhone users who have not been able to recharge due to the ongoing pandemic

twitter-logoBusinessToday.In | May 14, 2021 | Updated 18:22 IST
The share touched a 52-week high of Rs 2,368.80 on September 16, 2020, and a 52-week low of Rs 1,393.65 on May 20, 2020.
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Reliance Industries share rose 1.46 per cent intraday after its digital arm, Reliance Jio announced two special initiatives for the pandemic period, especially for the less-privileged sections of the society.

The share hit an intraday high of Rs 1,941.50 and an intraday low of Rs 1,906.50. Market cap of the firm rose to Rs 12,27,855.04 crore.

The share touched a 52-week high of Rs 2,368.80 on September 16, 2020, and a 52-week low of Rs 1,393.65 on May 20, 2020. Currently, the stock is trading 18.56 percent below its 52-week high and 38.42 percent above its 52-week low.

It ended 1.22 per cent higher at Rs 1,936.85 against the previous close of Rs 1,913.55. The stock has given 35 per cent returns over the last 12 months. On a year-to-date (YTD) basis, the stock is down around 2.42 per cent.

"Jio working with Reliance Foundation will provide 300 free minutes of outgoing calls per month (10 minutes per day) for the entire period of the pandemic, to JioPhone users who have not been able to recharge due to the ongoing pandemic," the company said in a press release.

Additionally, to further enhance affordability, for every JioPhone plan recharged by JioPhone users, they will get an additional recharge plan of the same value for free. For example, a JioPhone user recharging with Rs 75 plan, will get an additional Rs 75 plan free.

"Reliance is committed to standing with every Indian during these challenging times, and will continue to make every effort to enable our fellow citizens to overcome the difficulties created by the pandemic," it added.

Jio Platforms (JPL) posted a net profit of Rs 3,508 crore for the quarter ended March 31, 2021 compared to Rs 2,379 crore in the same quarter of the previous fiscal. This translates to a 47.5 per cent year-on-year profit in the fourth quarter of the financial year 2020-21. The net profit of JPL for FY21 stood at Rs 12,537 crore.

During 4Q FY21, average data consumption per user per month was strong at 13.3 GB and average voice consumption was at 823 minutes per user per month. The company said that it exited FY21 with a customer base of 426 million, with Q4 gross additions at 31 million users.

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