RIL hits fresh 52-week high
Posted by :- Rupa Roy
Share price of Reliance Industries rose 4.05% in the early trade on Wednesday and touched a fresh 52-week as well as intraday high of Rs 1,571 apiece, against the last closing value of Rs 1,509.80 on the BSE. Profit booking is seen on the stock today, with 72% sellers offering and 28% bidders buying the stock at current price, market depth data on BSE suggests.
Mukesh Ambani-led telecom operator has revealed plans to increase tariffs as TRAI prepares to launch a consultation process to revise telecom rates.
This was on back of announcements from rivals Vodafone Idea and Bharti Airtel, where they said they will hike tariffs from December 1. The tariff hikes are expected to help increase revenues, augment ARPUs and fund investments in 4G and 5G infrastructure.
In a separate development, Reliance Jio continued its dominance over its rivals, adding 69.83 lakh mobile subscribers in September this year to take its subscriber base to 35.52 crore.