RIL share hit a fresh 52-week low of Rs 867 on March 23, 2020. Since then, the stock has gained 87.31% on BSE. 
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RIL share hit a fresh 52-week low of Rs 867 on March 23, 2020. Since then, the stock has gained 87.31% on BSE. Reliance Industries share price hit fresh 52-week high today after the Mukesh Ambani-led conglomerate announced the sale of 1.16% stake in Jio Platforms to a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The investment into Jio platforms is worth Rs 5,683.50 crore. This is the seventh fund infusion in RIL's digital unit amounting to a record Rs 97,885.65 crore investment to help it pare debt.
Share price of Reliance Industries gained 2.78% to hit a fresh yearly high of Rs 1,624 compared to the previous close of Rs 1580.60 on BSE. The large cap stock hit a fresh 52-week low of Rs 867 on March 23, 2020. Since then, the stock has gained 87.31% on BSE.
On Nifty, the stock gained 2.71% to Rs 1,618 compared to the previous close of Rs 1,581. Total 0.25 lakh shares changed hands on BSE amounting to turnover of Rs 4.06 crore. Market cap of the firm rose to Rs 10.22 lakh crore on BSE. RIL stock price has gained 5.4% in one week and 2.61% in one month. It has gained 5.84% since the beginning of this year and risen 21.84% during last one year. RIL stock trades higher than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
On Sunday, Reliance announced fresh investment into its digital platform. This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, Reliance Industries Limited (RIL), parent of Jio Platforms, said in an exchange filing.
"ADIA's investment will translate into a 1.16% equity stake in Jio Platforms on a fully diluted basis," the company said.
Abu Dhabi's Mubadala to invest Rs 9,093.60 cr in Mukesh Ambani's Jio Platforms
Jio Platforms has raised a cumulative Rs 97,885.65 crore from technology investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks. Last week, Mukesh Ambani-led conglomerate announced the sale of 1.85 per cent stake in Jio Platforms to Abu Dhabi-based sovereign investor Mubadala for Rs 9,093.60 crore.
Referring to Sunday's announcement, the company said Morgan Stanley acted as financial advisor in the deal and AZB & Partners, Davis Polk & Wardwell acted as legal counsel.
RIL share price gains 2% after firm raises Rs 84,000 crore through rights issue
"I am delighted that ADIA, with its track record of more than four decades of successful long-term value investing across the world, is partnering with Jio Platforms in its mission to take India to digital leadership and generate inclusive growth opportunities. This investment is a strong endorsement of our strategy and India's potential," Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said.
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