Shares of Reliance Industries hit near 9-year high as Jio subscriptions cheered investors.
Reliance stock rose as much as 4.5 per cent to Rs 1,380.50, its highest since May 2008.
The stock was the top percentage gainer on the NSE index.
Reliance Jio, the company's telecoms unit, has signed up 72 million paying customers under its Prime plan.
It has extended the enrolment deadline for the plan until April 15.
“The retention rate is quite impressive and turned out at least 10 per cent more than the street talk,” says an analyst at a domestic brokerage.
Rival Bharti Airtel stock plunged as much as 3.3 per cent and Idea Cellular Ltd fell as much as 1.6 per cent.
Up to Friday's close, Reliance Industries had risen about 15.8 per cent this year.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.