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Reliance Industries Gains; Traders Bet on Telecom Rollout

Shares in Reliance Industries gained 3.1 per cent on Friday. The stock was seen heading towards its biggest daily gain since July 22.

The company’s telecom unit – Reliance Jio – may start 4G services in next 3-6 months, traders said. Reliance Industries expects to start offering 4G telecom services next year.

Reliance Jio’s launch will happen in first half of 2015 because of rollout obligations of five years, analysts said.

The company made a return to telecoms in 2010 by acquiring the only company that had won nationwide 4G airwaves.

The telecom business would become operating profit accretive in 3-4 years, analysts added.

Bharti Airtel has underperformed NSE in October-December on Reliance Jio worries.

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