Reliance Industries shares surged in afternoon trade today, rising to an almost nine-year high, ahead of the start of paid telecom services by the company and release of the data on the number of ‘Prime’ subscribers on its Jio telecom service network. The shares of India’s second-largest company by market cap were trading at Rs 1,326.1 on BSE, up by a whopping 4.5% on Friday afternoon.
Reliance Industries shares are on a sustained rise on the prospects of cash flows from its telecom business, which has seen heavy investments so far.