News

Reliance Industries, a key player in the Indian corporate world, has made significant strides in various sectors such as petrochemicals and telecommunications. The introduction of Jio in September 2016 had a transformative effect on both the company and the Indian telecom industry. Within a short span of less than a decade since its launch, Jio has emerged as the largest telecom player in the country.

If you had invested ₹10,000 in Reliance Industries back in September 2016, when its stock price was ₹539.36, you would have obtained approximately 18 shares. Today, with the stock price reaching ₹2,520, those shares would be valued at around ₹46,719.68. Furthermore, you would have also received 18 shares of Jio Financial Services, which recently debuted on the stock exchanges. These shares, currently priced at around ₹250 each, would be worth approximately ₹4,400.

Jio’s entry into the telecom sector disrupted the industry with its affordable pricing and extensive 4G network coverage. This aggressive approach quickly attracted a large number of subscribers, propelling Jio to become one of the leading telecom operators in India within a remarkably short span of time. With the introduction of Jio Financial Services (JFS), Reliance Industries now aims to make waves in the financial services industry.

JFS made its debut on the National Stock Exchange (NSE) recently. Upon listing, it achieved a market capitalization of ₹1.68 lakh crore, positioning itself as India’s 33rd most valuable firm and the third-largest Non-Banking Financial Company (NBFC), ranked only behind Bajaj Finance and Bajaj Finserv. Initially opening at ₹265 on the BSE and ₹262 on the NSE, JFS experienced a temporary drop of 5%, falling to ₹248.9 due to several block deals on the exchange.

As of Monday, Reliance Industries’ share price was down 0.55%, trading at ₹2,533.90. The company remains a significant player in both the telecom and financial services industries, continuing to shape the landscape of the Indian corporate sector.

[Note: This article is for educational purposes only and does not constitute financial advice.]

The post Reliance Industries Emerges as India’s Largest Telecom Player appeared first on ISP Today.