RIL Gains 2% After CLSA Reiterates Buy; Bets On Jio Advancements

Shares of Reliance Industries gained nearly 2 percent intraday on Friday after a brokerage firm reiterated its buy call on the stock.

CLSA, in a report, reiterated its bullish call on the stock with a target of Rs 1,710, implying an upside potential of 29 percent. It places its bet on the developments around its telecom service, Jio.

“After improving voice and data service quality over the past few months, we expect Jio to take the next step to monetisation. Also, we see Jio launching an affordable 4G feature phone within 2QFY18,” the brokerage said in its report.

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