Reliance Industries reclaimed Rs 10 lakh crore market capitalisation mark after the stock of Mukesh Ambani-led firm gained over 3% in early trade today. Share price of Reliance Industries rose up to 3.4% to Rs 1,614 compared to the previous close of Rs 1,561.80. The stock was mere three points away from touching its 52 week high of Rs 1,617 hit on December 20, 2019. However, the stock closed mere 0.96% higher at Rs 1,576 . RIL's market cap stood at Rs 9.99 lakh crore at end of trade today.
After Jio deals, RIL valued higher than BP, Sinopec, Shell, ConocoPhillips, Vodafone, Tesco
It hit 52-week low of Rs 875 on March 23 this year. The stock has gained 84.45% from its 52 week low taking into account intra day high of Rs 1,417 on BSE.
RIL stock price has gained 9.85% in one week and 29.33% in one month. It has risen 4.14% since the beginning of this year and 26% during last one year. Reliance Industries stock stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Since April 23, the stock has gained 30.58% on global investors pumping huge amount of money into RIL's telecom arm Reliance Jio.
On May 8, RIL share price gained 4.43% to Rs 1,574 after PE firm Vista Equity Partners said it would invest Rs 11,367 crore into Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
RIL fixes May 14 as record date for first rights issue in three decades
PE firm Vista will acquire 2.32 per cent equity stake in Jio Platforms on a fully diluted basis. The deal will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook.
On May 2, Reliance Industries share price rose over 3% after brokerages maintained buy call on Silver Lake buying minority stake in Reliance Jio Platforms. Share price of Reliance Industries gained 3.02% intra day to Rs 1478.8 compared to the previous close of Rs 1,435 on BSE.
Global tech investor Silver Lake will invest Rs 5,655.75 crore in Reliance Industries Jio Platforms at an equity value of Rs 4.9 lakh crore and an enterprise value of Rs 5.15 lakh crore. RIL said it represents 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22.
On April 22, Reliance Industries share price rose over 8.33% to Rs 1339 against previous close of Rs 1,236 after social media giant Facebook announced buying minority stake in the Mukesh Ambani-owned telco Reliance Jio for $5.7 billion (Rs 43,574 crore). On Nifty too, Reliance Industries share price was the top gainer. The index heavyweight gained over 8% to Rs 1,339 on NSE.
Facebook said it would invest Rs 43,574 crore ($5.7 billion) investment in Mukesh Ambani-led Jio Platforms Limited. With the investment, Facebook will hold a 9.99 per cent stake in Jio Platforms and will be the largest minority shareholder.