March 3, 2017 / 6:06 AM / 5 months ago

BUZZ-India's Reliance Ind hits near 9-year high; CLSA raises PT

1 Min Read

** India's Reliance Industries rises as much as 4.1 pct to its highest since May 2008

** Stock top percentage gainer on the NSE index

** CLSA analysts raise target price to 1,500 rupees from 1,350 rupees, retain "buy"

** Brokerage cites optimistic assessment provided by company at analyst meet

** ** Jio told analysts it expects telecom industry revenue to reach $45 bln by FY2021, garner over 50 percent market share of that amount - CLSA

** "While Jio believes voice revenues will shrink materially, this should be more than offset by higher data revenues driven by big rise in data consumption," CLSA says.

** Since announcing shift to paid services on Feb. 21, Reliance shares have surged about 14 percent compared with a 0.09 percent fall in the NSE during the same period

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