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Reliance shares rise after Mukesh Ambani hits at 5G rollout in second half of 2021

In traded volume terms, 6.83 lakh shares were traded at the BSE and over 2 crore units on the NSE during the day.

SNS | New Delhi |

Share price of Reliance Industries Limited spiked nearly 2 per cent on Monday after Mukesh Ambani hinted at rolling out 5G telecom services in the second half of 2021.

In the S&P BSE Sensex, the market heavyweight stock gained 1.82 per cent to close at Rs 1,993.75 on the BSE. Earlier in the day, it had witnessed a high of 2.86 per cent to Rs 2,014.20.

Similarly, on the NSE, it rose by 1.75 per cent to close at Rs 1,992.45.

In traded volume terms, 6.83 lakh shares were traded at the BSE and over 2 crore units on the NSE during the day.

Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere.

Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area.

5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is among the best digitally connected nations in the world.

“In order to maintain this lead, policy steps are needed to accelerate the early rollout of 5G, and to make it affordable and available everywhere,” he said.

“I assure you that Jio will pioneer the 5G Revolution in India in the second half of 2021. Jio’s 5G will be powered by the indigenously-developed network, hardware and technology components,” he added.