Reliance Industries (RIL) shares gained up to 2.84% to ₹1,421 on the NSE, extending gains for a second straight session after Reliance Jio announced changes to its prepaid plans.
Jio has discontinued its entry-level packs — ₹209 (22 days, 1GB/day) and ₹249 (28 days, 1GB/day). The new starting plan is ₹299 for 28 days (1.5GB/day), bringing Jio in line with Bharti Airtel and Vodafone Idea.
Brokerages see the move as a positive:
Morgan Stanley: Notes the lowest 28-day daily data plan now starts at ₹299.
IIFL: Limited direct impact (under 2% revenue boost).
Axis Capital: Expects 4–5% higher revenue and ARPU by FY26.
Interestingly, Indian Overseas Bank (IOB) was the only PSU bank trading in the green, showing minor gains despite the broader sell-off.