Reliance Industries Ltd (RIL), an oil industry that transformed into a renowned Telecom industry is at the peak of its business. They have left behind the Tata Consultancy Services Ltd (TCS) which is known to be the biggest software service firm in the country. Hence, we may assume that RIL has become the most successful and leading market capitalization firm in the country. As per the reports provided by the BSE, RIL has achieved a capital of ₹ 7.46 trillion, This happened after the shares of the company increased by 2.4% as per the reports provided by the BSE. It has had a record of ₹ 1177.80 while, TCS has had a share of ₹ 1930 per share which has been of a worth of ₹ 7.39 trillion.
After the Q1 results, the company has seen an increase in its profit by about 18% to an amount of ₹ 9,459 Crore.
Reports suggest that the shares of the RIL have left behind the entire market, much more than what was expected from the company.
Morgan Stanley, in his address to the investors, stated, “Reliance Jio continued to show strong subscriber momentum, in line with our expectation. However, flattish sequential ARPU despite cash back offers and changes to prime membership are surprises. Focus remains on onboarding more subscribers and driving engagement; price increase appears less of a focus for now.”