How Reliance Stock Price Reacted to Telecom Tariff Hike

On Sunday, Reliance JIO announced that “JIO is introducing its “All-in-one” or AIO plans, which will be priced up to 40% than previous plans, but will offer up to 300% more benefits. These new plans will be effective from December 6, 2019 onwards.

Economic Times reported that,

Jio said Sunday said it took the step “to help sustain” the telecom industry, which is burdened with over Rs 7 lakh crore of debt and the world’s lowest average revenue per user (ARPU).

Source Economic Times

On Monday trading session ,the market capitalization of Jio’s parent, Reliance Industries Ltd (RIL), rose by about ₹22,650 crore on Monday, while that of Airtel and Vodafone Idea gained ₹9,370 crore and ₹2,730 crore, respectively.

Reliance 1min – Futures Charts

However the intraday top is made at the 6th Minute after market reacting to those market sentiment and reminder of the day reliance slided down post the extreme positive sentiment.

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