Reliance Industries surges on investing Rs 1 lakh to acquire stake in Jio Platforms

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Reliance Industries is currently trading at Rs. 1579.20, up by 9.45 points or 0.60% from its previous closing of Rs. 1569.75 on the BSE.

The scrip opened at Rs. 1572.50 and has touched a high and low of Rs. 1581.25 and Rs. 1564.40 respectively. So far 171696 shares were traded on the counter.

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The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1,581.25 on 28-Nov-2019 and a 52 week low of Rs. 1055.35 on 11-Dec-2018.

Last one week high and low of the scrip stood at Rs. 1,581.25 and Rs. 1537.90 respectively. The current market cap of the company is Rs. 998804.91 crore.

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The promoters holding in the company stood at 50.05%, while Institutions and Non-Institutions held 38.31% and 11.65% respectively.

Reliance Industries (RIL) has invested Rs 1 lakh to acquire 10,000 equity shares of Rs 10 each at par of the wholly-owned subsidiary (WOS) namely ‘Jio Platforms’ (JPL). JPL was incorporated on November 15, 2019 and is yet to commence its business operations.

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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.