RIL gains 1% as Intel Capital to invest Rs 1,894 crore in Jio Platforms

Shares of Reliance Industries (RIL) gained as much as 1.4 per cent to Rs 1,785.65 apiece on the BSE on Friday after the company announced Intel Capital will invest Rs 1,894.50 crore in its Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion for a 0.39 per cent stake.

This will be the twelfth international deal for Reliance’s digital arm in less than three months, taking the total investment amount to Rs 117,588.45 crore.

At 09:21 am, the stock was trading 1 per cent higher at Rs 1,778 on the BSE as compared to around 0.5 per cent gain in the benchmark S&P BSE Sensex.

The stock had hit an all-time high of Rs 1,804 on June 22 this year while its 52-week low stands at Rs 867.82 on March 23, 2020.