Thanks to Jio, RIL is catching up with Sensex after a decade-long slumber

'Owning Reliance had no better outcome than owning the index over the last decade and I don't anticipate that changing over the next 10 years'

Reliance Industries Ltd.’s recent gains are helping one of India’s most-valuable companies catch up with the benchmark index, which it had trailed for much of the past decade.

At close of trading Wednesday, the company’s shares had surged 135 per cent since it launched telecom services in 2016, nearly four times the advance in the S&P BSE Sensex, making it the best performer in the benchmark index. That brought its 10-year gain to 149 per cent, just shy of the Sensex’s 155 per cent advance. Reliance shares climbed 2.8 per cent on Thursday, adding to an advance this quarter that would