Shares of India’s largest private enterprise Reliance Industries Ltd (RIL) on Wednesday jumped as much as 10.5%, its biggest jump since May 2009, as investors anticipated revenue generation for its telecom venture Jio starting from 1 April. In intraday trade , RIL touched a high of Rs1,202, a level last seen on 19 May 2009, and gained as much as 10.5%, its biggest jump since May 2009. At 2.31pm, RIL was trading at Rs1,201.75 on the BSE, up 10.4% from its previous close, while India’s benchmark Sensex index rose 0.33% to 28,857.07 points. The scrip gained in six out of seven trading sessions and rose 13.8% in this period. So far this year, it has gained 8.3%. On Tuesday, Reliance Jio announced that it will end free data service and start charging its customers from 1 April, though voice calls and roaming will remain free. “We believe this is a significant development as it will likely lead to P&L recognition of Jio in FY18 and also provide much better visibility on i...
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