Photo: ReutersMumbai: Reliance Industries Ltd (RIL) became the first Indian company to cross Rs6 trillion market capitalisation after its shares surged over 75% so far this year and hit a fresh lifetime high on Thursday. The stock added nearly Rs3 trillion market cap since April after its telecom arm Reliance Jio started charging its customers. The Indian telecom industry is under pressure due to huge competition after Reliance Jio’s entry in the market. “The Indian telecom industry is seeing huge amount of consolidation and with decreasing choices for the subscribers the operators will compete on quality of service over the medium to long term. We are highly optimistic on the prospects of the Indian telecom industry,” PhilipCapital added.

Source: Mint October 26, 2017 09:22 UTC