Reliance Industries Shares Breach 12-Month Target As Jio Concerns Ease

Analysts may need to revise their expectations for Reliance Industries Ltd.

Shares of India’s second-biggest company by market value met the 12-month price target, first time since June 12, 2014.

Investors pushed up the stock as much as 11.4 percent intraday on Wednesday, welcoming billionaire Mukesh Ambani’s decision to end free data plans for customers of Reliance Jio Infocomm Ltd. starting April 1.

Also Read: RIL Rallies As Markets Get Clarity Over Reliance Jio’s Future Revenue