Reliance Industries shares hit all-time high on Thursday
Reliance Industries Limited (RIL) shares hit an all-time high in Thursday’s intra-day trade, bettering a similar feat achieved earlier in the week. The oil-to-telecom conglomerate’s shares hit the record high of Rs 1,665 towards the end of Thursday’s trading hours, making it India’s biggest company as its market capitalization surpassed Rs 10.5 lakh crore. At closing however, RIL’s shares were priced at Rs 1656.25 apiece, up Rs 40.85, or 2.53 per cent from the previous closing mark.
After the market hours, Reliance industries announced yet another investment in its telecom arm Jio Platforms. In the latest deal, Saudi Arabia-based wealth fund Public Investment Fund (PIF) will invest Rs 11,367 crore in Jio Platforms to buy a 2.32 per cent stake in the company. This is the eleventh investment in Jio Platforms within nine weeks.
In the spell of investments, Jio Platforms has now raised Rs 1,15,693.95 crore from technology investors including Facebook, Silver Lake Partners (two Investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority and L Catterton. In the process, the company has sold over 24 per cent to the investors.
Earlier in the week, on Monday too, the RIL stock had hit an all-time high buoyed by investments from TPG and L Catterton over the weekend.
