Reliance Shares Near 12-Month Target as Jio Concerns Ease: Chart

(Bloomberg) -- Analysts may need to revise their expectations for Reliance Industries Ltd. Shares of India’s third-biggest company by market value are trading 3.4 percent below the 12-month price target, the narrowest spread since June 2014. Investors pushed up the stock as much as 7.8 percent Wednesday, welcoming Billionaire Mukesh Ambani’s decision to end free data plans for customers of Reliance Jio Infocomm starting April 1.

To contact the reporter on this story: Ravil Shirodkar in Mumbai at rshirodkar@bloomberg.net.

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Jake Ulick, Ravil Shirodkar