Reliance Industries has been a cornerstone in the Indian corporate world, with its ventures spanning from petrochemicals to telecommunications. The introduction of Jio in September 2016 was a game-changer for both the company and the Indian telecom landscape. In under a decade since its nationwide launch, the company has emerged as the largest telecom player in the country.
The Investment: At the stock price of ₹539.36 in September 2016, an investment of ₹10,000 would have secured you approximately 18 shares. Fast forward to today, with the stock price soaring to ₹2,520, those shares would be valued at a handsome ₹46,719.68.
Additionally, you would have also gotten 18 shares of Jio Financial Services, which listed today on the exchanges. Now, with its current market price of around ₹250 apiece, those 18 shares would have been worth around ₹4,400.
Background: Jio’s entry into the telecom sector with its disruptive pricing and expansive 4G network coverage sent shockwaves through the industry. Its aggressive approach led to a swift surge in subscribers, positioning Jio as a leading telecom operator in India in a remarkably short time.
Now as Jio Financial Services (JFS) made its debut on the NSE on Monday, the conglomerate looks set to create waves in the financial services industry. JFS opened at ₹265 on BSE and ₹262 on NSE but faced a 5% drop to ₹248.9 shortly after, influenced by several block deals on the exchange.
With a market capitalisation of ₹1.68 lakh crore upon listing, JFS stands as India's 33rd most valuable firm and the third-largest NBFC, only behind Bajaj Finance and Bajaj Finserv.
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Price Action: Reliance’s share price was down 0.55% to trade at ₹2,533.90 in the late hours of trading on Monday.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
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