Reliance Industries shares gain 2% after making a move on tariffs

Shares of Reliance Industries Ltd., the Nifty 50 heavyweight and Mukesh Ambani-owned oil-to-telecom-to-retail conglomerate, are trading with gains of 2% on Tuesday, August 19. The uptick in the stock price was seen after Jio indirectly raised tariffs by 20% with entry-level plan withdrawal.Reliance Jio has discontinued its entry-level 1GB per day prepaid plans, priced at ₹209 for 22 days and ₹249 for 28 days.

With this change, the new effective entry plan for prepaid users now starts at ₹299, which offers 1.5GB per day for 28 days. Earlier, this same plan cost ₹249.

Competitors Bharti Airtel and Vodafone Idea already charge ₹299 for their 1GB per day 28-day packs, bringing Jio’s pricing in line with industry levels. This limits the scope for customers to downtrade to cheaper options.
According to brokerage firm IIFL, the ₹249 plan contributed less than 10% to Jio’s mobile revenues, so the 20% tariff hike will likely result in under 2% revenue growth on a direct basis.However, Axis Capital estimates the change could lift Jio’s FY26E revenue and ARPU by 4-5%.

The brokerage expects Bharti Airtel and Vodafone Idea to follow suit and raise tariffs as well.

Morgan Stanley wrote in its note on telecom sector that Jio has removed its popular ₹249 (1GB per day, 28 days) and ₹199 (1.5GB per day, 18 days) plans.

The ₹249 pack was Jio’s only remaining 1GB per day option for 28 days. Now, the lowest priced daily data plan for 28 days begins at ₹299 (1.5GB per day), it said.

Shares of Reliance Industries ended 0.66% higher at ₹1,382.90. The stock is up 13% so far in 2025.