Reliance Industries gains as its JV inks pact to power Zomato’s EV journey

Reliance Industries is currently trading at Rs. 2629.00, up by 32.70 points or 1.26% from its previous closing of Rs. 2596.30 on the BSE.

reliance industries to pay for venezuelan crude oil via exports of diesel
reliance industries to pay for venezuelan crude oil via exports of diesel

The scrip opened at Rs. 2622.00 and has touched a high and low of Rs. 2658.60 and Rs. 2621.10 respectively. So far 76391 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2855.00 on 29-Apr-2022 and a 52 week low of Rs. 2016.60 on 28-Jul-2021.

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Last one week high and low of the scrip stood at Rs. 2790.05 and Rs. 2585.10 respectively. The current market cap of the company is Rs. 1782501.12 crore.

The promoters holding in the company stood at 50.66%, while Institutions and Non-Institutions held 38.63% and 10.71% respectively.

Jio-bp, a fuels and mobility joint venture (JV) between Reliance Industries (RIL) and bp, and Zomato have entered into an agreement to support Zomato’s commitment towards The Climate Group’s EV100 initiative of 100% EV fleet by 2030.

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Towards the same, Jio-bp will provide EV mobility services to Zomato along with access to ‘Jio-bp pulse’ branded battery swapping stations for last mile delivery.

Leveraging the best of RIL and bp’s strengths in electrification, Jio-bp is creating an ecosystem that will benefit all the stakeholders in the EV value chain.

Last year, Jio-bp, constructed and launched two of India’s largest EV charging hubs. The JV’s electric mobility business, offering charging infrastructure to Indian consumers, operates under the brand Jio-bp pulse.

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With the Jio-bp pulse mobile app, customers can easily find nearby charging stations and seamlessly charge their EVs.

The collaboration is poised to accelerate EV adoption in the rapidly growing Indian delivery and transportation segment.

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.