India’s ruling company on oil business is owned by Reliance and is earning most from the oil business, but still, the investors of Reliance Industries Ltd., are surprised about the losses incurred in the telecom sector, where the market position as on 26th April, at 15:54 was BSE -1.13%. The investors should work hard towards the creation of an equivalent communication system like the largest wireless communication carrier of US, called as Verizon communication Inc. Else need to do great efforts by the investors to jump the 38% of stocks in dollars in this year.
In the last 12 months, Reliance refineries have garnered $11 on each barrel of crude oil in the western coast, which beats Singapore, who has benchmarked $5 from each barrel. The richest man of India, Chairman Mukesh Ambani, of Reliance Industries, is now has put the bet on his investments in petrochemical and refining products to increase the cash flow and returns.
The technique is working but the concern is more about the gamble played by him with the launch of Reliance Jio in the market, the unit of telecom industry which is supplying 1 billion GB monthly data on daily basis, which is compared to the altogether U.S. network supplies. While the recent backup plan from Reliance Jio announced for the Jio users, though under attractive prices, made possible to wrap 100 billion users in 170 days to be the prime members.
The rivals Bharti Airtel Ltd. and Vodafone Group Plc was forced to curtail their tariffs after the entry of Reliance Jio in September 2016.