Reliance Industries Ltd has become the first Indian company to achieve a market value exceeding 21 lakh crore rupees. This milestone follows a more than 20 percent surge in its stock price this year.
In the early trade today, the stock increased by 1.5 percent, reaching a record high of 3,129 rupees per share.
The rise came after Reliance Jio Infocomm Ltd announced new unlimited plans effective from July 3.
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Reliance and Airtel hike recharge prices
Reliance Jio has updated its mobile tariffs, introducing a range of new unlimited plans effective from July 3, 2024. The plans start from 189 rupees for 2 GB per month and go up to 3,599 rupees for an annual plan offering 2.5 GB per day.
Bharti Airtel, India's second-largest telecom operator, announced a 10-21 percent hike in mobile service tariffs, effective July 3, 2024. Bharti Airtel stated that the price hike will result in an increase of less than 70 paise per day on entry-level plans.
The company emphasized that the Average Revenue per User or ARPU must exceed 300 rupees to ensure the financial sustainability of the telecom sector in India.