Reliance Industries (RIL) shares gained over 2 percent in Tuesday’s trade after its telecom arm, Reliance Jio, announced revisions to its prepaid tariff structure. Positive commentary from brokerages further fueled the rally.

On the NSE, RIL climbed as much as 2.2 percent to ₹1,412.40 around 11:52 am, marking its second consecutive session of gains.

Jio has discontinued its low-cost prepaid packs of ₹209 (1GB per day for 22 days) and ₹249 (1GB per day for 28 days). With this change, the new entry-level daily data plan begins at ₹299 for 1.5GB per day over 28 days — a 20 percent jump from earlier, bringing Jio’s tariffs in line with Bharti Airtel and Vodafone Idea.

Brokerage IIFL noted that the ₹249 plan contributed less than 10 percent to Jio’s mobile revenues, suggesting the price hike may lift overall revenue by under 2 percent. However, Axis Capital estimated that the revisions could raise Jio’s FY26E revenue and ARPU by 4–5 percent.

Morgan Stanley highlighted the scrapping of Jio’s popular ₹249 (1GB/day, 28 days) and ₹199 (1.5GB/day, 18 days) plans, pointing out that the lowest daily data plan for 28 days now starts at ₹299.

Domestic brokerages reiterated bullish calls on Reliance. Citi maintained a “Buy” rating with a target price of ₹1,690, adding that SEBI’s new IPO proposal could be favorable for a potential Jio listing. Jefferies also retained its “Buy” recommendation with a target price of ₹1,670, citing stronger Jio cash flows, steady momentum in retail, and sustained investments in renewables within the oil-to-chemicals segment.

As of 10:30 am, trading data showed 2.21 lakh RIL shares worth ₹31.06 crore changing hands on the BSE, while more than 45 lakh shares were exchanged on the NSE. The company’s market capitalization stood at over ₹19.1 lakh crore.