Reliance Industries Extends Gains On Jio 5G Rollout Plans
Reliance Industries shares extended their previous day's gains by another 1 per cent after Chairman and Managing Director Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021."I assure you that Jio will pioneer the 5G Revolution in India in the second half of 2021," Mukesh Ambani had said while delivering a keynote address at the India Mobile Congress 2020. The shares of Reliance Industries gained more than 1 per cent to Rs 2,015.25 in early trading, building on its 1 per cent-plus gains in the previous session. At 9:59 am,the shares of Reliance Industries were trading just marginally off their intra-day peaks at Rs 2,011.10, up 0.8 per cent.
Mr Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also stressed on the need for policy measures to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. He also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area.
5G is the fifth generation mobile network that makes it possible to connect everyone and everything virtually, including machines, objects and devices.
Jio and other service providers such as Bharti Airtel and Vodafone Idea currently offer 4G services.
The BSE Sensex was at 45,887.09, higher by 280.25 points or 0.61 per cent and the NSE Nifty was at 13,474.50, up 79.35 points or 0.6 per cent at the time.
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