Latest News | Reliance Industries Shares Gain Nearly 2 Pc After Intel Capital Deal

New Delhi, Jul 3 (PTI) Shares of Reliance Industries rose nearly 2 per cent on Friday after announcement that Intel Capital will buy 0.39 per cent stake in Jio Platforms.

The heavyweight stock jumped 1.53 per cent to close at Rs 1,787.50 on the BSE. During the day, it gained 1.83 per cent to trade at Rs 1,792.80.

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On the NSE, the stock rose 1.57 per cent to settle at Rs 1,788.

The company's market valuation jumped by Rs 17,109.55 crore to Rs 11,33,168.55 crore on the BSE.  

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In terms of volume, 8.57 lakh shares were traded on the BSE and 1.35 crore on the NSE.

Electronic chip maker Intel's investment arm, Intel Capital, will buy 0.39 per cent stake in Mukesh Ambani's digital unit, Jio Platforms, for Rs 1,894.50 crore, the company said on Friday.

Intel Capital is 12th company to join the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to Rs 1,17,588.45 crore.

"Intel Capital will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, Reliance Industries and Jio Platforms said in a joint statement.

Intel Capital's investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)