January 22, 2018 / 5:27 AM / a year ago

BUZZ-India's Reliance Industries shares rise on robust earnings results

** Shares of Reliance Industries Ltd jump as much as 2.5 pct to 954.65 rupees, in their biggest intraday pct gain since Nov 16, 2017

** Co posts record consol net profit in third quarter, helped by first ever profit at Jio telecoms business

** Jio continued to show strong subscriber additions and stronger-than-expected average revenue per user (ARPU), with indications the provider is being used as the primary number for most of its subscribers - Morgan Stanley

** Morgan Stanley adds ARPU could decline in next few quarters due to promotional offers, but expects stronger subscriber momentum

** Management highlighted end of core capex cycle in its refining and petchem businesses, which could lead to strong growth in earnings coupled with balance-sheet improvement - Emkay Research

** Up to Friday’s close, stock had risen 80.2 pct in past 12 months, compared with 34.1 pct gain in Nifty energy index

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