Reliance Industries shares surged again in the morning trade, extending stellar gains of the previous week, after revelation of plans to monetise its telecommunication business under Reliance Jio. RIL soared as much as 6% to hit Rs 1,253.45, its highest in at least eight years, since May 18, 2009. It was the top gainer on NSE Nifty, alone contributing to about 37% of the index gains. Its market cap topped Rs 4 lakh crore. It had earlier last week recaptured the second spot in the list of India\u2019s most valuable companies, beating HDFC Bank. Reliance shares were cheering the prospect of fresh cash inflows from the commercialisation of its telecommunication services business Reliance Jio at a very healthy price point with the start of paid services beginning April. Earlier last week, Reliance Industries Chairman Mukesh Ambani said that Reliance Jio, the newest entrant in India\u2019s highly competitive telecom sector, will start charging fees from users for its voice and data services. Reliance Jio, which launched its services in September last year, has been offering free voice and data services under various sequential schemes. Its current scheme called \u2018Happy New Year\u2019 ends on March 31. Its tariffs at Rs 303 per month are higher than the industry-wide ARPU (average revenue per user) of sub-Rs 200. \u201cWhat shareholders are beginning to appreciate is that notwithstanding the low prices, there is a methodical move towards ROI,\u201d Angel Broking said in a recent note after the announcement of Reliance Jio\u2019s tariff plans. \u201cAccording to early estimates by brokers, Reliance Jio is likely to break even by mid-2018 on an EBITDA basis. That would still be a phenomenal achievement,\u201d Angel Broking added. You may also like to watch: [jwplayer CpVDTL6I] Further, Reliance Industries is also expected benefit a lot in the near future as the company\u2019s projects under commissioning will significantly add to free cash flows, Jal Irani, Senior VP at Edelweiss Capital Services, said on Wednesday morning in an interview to CNBC TV18. \u201cThere are $40 billion worth of projects in commissioning phase, which doubles their (RIL\u2019s) productive assets,\u201d Irani said, adding, \u201cWe forecast RIL\u2019s free cash flows to rocket from next year as the quarterly capex trend is plummeting.\u201d Edelweiss has a target price of Rs 1,413 on RIL\u2019s shares.