RIL Shares Slip 1% Ahead Of The Launch Of Jio's Jiofiber Post Paid Service

Shares of Reliance Industries in early trade on June 16, 2021 fell over 1 percent to day's low price of Rs.2227.20 as against previous day's close of Rs. 2250 per share on the NSE. Meanwhile, headline indices traded flat with a negative bias on the Nifty.

The company's telecom subsidiary Jio is set to launch Jiofiber post-paid broadband service from June 17. For the new connections the company will not charge any installation fee. In the current regime, for new connections the company charges Rs. 1500 as installation charges. Also, there shall be no security deposit against the Wi-fi router that is offered as part of the connection.

In respect of the tariff, the Jiofiber postpaid service will be offered at the cheapest rate in the industry at Rs. 399 per month. Furthermore, these compelling postpaid plans by Jio are structured in 6-month and 12-month plans such that users continue to get seamless broadband connectivity.

Along with the JioFiber postpaid services, users will get a 4K set-top box that they can avail by depositing a refundable security of just Rs. 1000.

Last, the stock of RIL quoted at a price of Rs. 2229.20 per share on the NSE.

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