RIL gains as CLSA ups target price on Jio booster

NEW DELHI: Shares of Reliance IndustriesNSE 0.32 % gained over 1 per cent in Friday’s trade after foreign brokerage CLSA said hiked its target for the scrip to Rs 2,010 from Rs 1,710 earlier, citing good chances of further upside to Jio’s profit.

The brokerage expects the recently announced tariff hike on JioPhone may result in higher Arpu as customers may prefer 28-day over 84-day plans.

Following the development, the scrip rose 1.07 per cent to hit a low of Rs 1567 on BSE.