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      RIL reverses direction

      MoM Team / Mumbai, Feb 23, 2017 02:56 PM IST

        RIL reverses direction

        Reliance Industries slipped 2 percent to Rs 1,183.9 on BSE, on profit booking after jumping 12.5 percent in two sessions.

        Meanwhile, the S&P BSE Sensex was up 158.4 points or 0.6 percent at 29,023.08.

        High volumes were witnessed on the counter. On the BSE, 9.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.27 lakh shares in the past one quarter.

        The stock had hit a high of Rs 1,222.30 so far during the day, which is the highest level since 19 May 2009 for the counter. The stock had hit a low of Rs 1,180.20 so far during the day. The stock had hit a 52-week low of Rs 925.70 on 23 May 2016.

        Reliance Industries (RIL) counter had risen 12.47 percent in two sessions to settle at Rs 1,207.65 on 22 February 2017, from a close of Rs 1,073.70 on 20 February 2017, triggered by the company announcing that Reliance Jio Infocomm has breached the 100 million customer mark in 170 days.

        The announcement was made at the fag end of market hours on 21 February 2017.

        Reliance Industries (RIL) on 21 February 2017, had said that its subsidiary Reliance Jio Infocomm (RJIL) has breached the 100 million customer mark in 170 days.

        Jio announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20 percent more data than what any other operator provides.

        As a token of its gratitude, the existing 100 million plus Jio subscribers can avail of the special 'Jio Prime Membership' programme which comes with several special benefits.

        First, Jio Prime Members will be able to enjoy the unlimited benefits of the existing Jio Happy New Offer for another full year or till 31 March 2018 for a nominal, one-time enrolment fee of just Rs 99 and a rock-bottom introductory price of only Rs 303 per month or effectively at just Rs 10 per day.

        Second, the programme will enable Jio Prime Members to enjoy the full bouquet of Jio's applications absolutely free till 31 March 2018. This translates to additional benefit worth over Rs 10,000 for the Jio Prime Members.

        In addition, there will be many other attractive deals and offers from both Jio and its partners that the Jio Prime Members will enjoy under this programme.

        The Jio Prime Membership is available only for existing Jio customers and the enrolment window will remain open from 1-31 March, 2017.

        RIL's consolidated net profit rose 3.6 percent to Rs 7506 crore on 17.6 percent growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

        Reliance Industries (RIL) is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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      Source: Capital Market

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