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Reliance Industries gains after its arm acquires spectrum in all 22 circles across India

Reliance Industries is currently trading at Rs. 2116.80, up by 10.60 points or 0.50% from its previous closing of Rs. 2106.20 on the BSE.

The scrip opened at Rs. 2121.70 and has touched a high and low of Rs. 2133.00 and Rs. 2107.20 respectively. So far 172276 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2368.80 on 16-Sep-2020 and a 52 week low of Rs. 867.82 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 2152.25 and Rs. 2063.20 respectively. The current market cap of the company is Rs. 1432679.26 crore.

The promoters holding in the company stood at 50.54%, while Institutions and Non-Institutions held 38.28% and 11.19% respectively.

Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (Jio) has acquired the right to use spectrum in all 22 circles across India in the recently concluded spectrum auctions conducted by Department of Telecommunications, Government of India. The company acquired spectrum in the 800 MHz, 1800 MHz and 2300 MHz bands.

The company has the highest amount of sub-GHz spectrum with 2X10 MHz contiguous spectrum in most circles. It also has at least 2X10 MHz in 1800 MHz band and 40 MHz in 2300 MHz band in each of the 22 circles.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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