Ways2Capital : Reliance Trades At Its 8-year High Up By Nearly 7.10%

Reliance Industries Limited (RIL) is soaring in markets today and is up by nearly 7%.The stock has gained almost Rs 25000 cr in market capitalisation today’s trade. RIL is contributing to almost 25 points to Nifty Gains and is trading at its 8 years high. The stock is trading at levels it has seen in 2009.

The stock is reacting to the major announcements made by Mukesh Ambani yesterday where he announced that the almost 7 customers have been added every second in past 170 days since Reliance Jio has been launched. Almost 100 million customers have been added in less than 170 days for Reliance Jio.

Reliance Jio, one of the world largest start up, is now expected to start generating revenues post April 1 period. The company in an aggressive bid to gain market share had offered free plans to acquire customers.

Reliance Industries Ltd is currently trading at Rs 1154.35, up by Rs 66.1 or 6.07% from its previous closing of Rs 1088.25 on the BSE.The scrip opened at Rs 1092.05 and has touched a high and low of Rs 1166.5 and Rs 1092.05 respectively. So far 6973807(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 353013.3 crore.
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