Reliance Industries shares jump after Jio tariff hike announcement

Shares of Reliance Industries Limited on Monday gained over 1 per cent after its telecom arm Jio announced an up to 21 per cent hike in prepaid tariffs from next month. The market heavyweight stock jumped 1.26 per cent to close at Rs 2,442.50 on BSE. During the day, it gained 3.64 per cent to Rs 2,500.
On NSE, it jumped 1.19 per cent to close at Rs 2,441.50.
After Bharti Airtel and Vodafone Idea, India’s largest mobile operator Reliance Jio on Sunday announced up to 21 per cent hike in its prepaid tariffs from next month.
Despite the increase in rates, Jio has kept the price of plans lower than Airtel and Vodafone Idea which is expected to continue pricing competition in the industry.