Rs 1.2 trillion: The increase in Reliance Industries Ltd’s (RIL’s) market capitalisation in six days after the announcement of Reliance Jio Platforms’ deal with Facebook.
- The RIL stock gained 15.5% on the BSE between April 22nd and 27th/28th. Reliance Jio, part of the Mukesh Ambani-promoted RIL, announced a Rs 43,547-crore equity deal with social media giant Facebook on April 22
- In comparison, the benchmark S&P BSE Sensex gained 4.8% during the same period.
- The company’s market cap increased by over 15% to Rs 9.05 trillion on April 27th/28th from Rs 7.83 trillion on April 21
- The stock had on April 27 hit a two-month high of Rs 1,475 in intra-day deals, recovering 68% from a low of Rs 876 it had touched on March 23
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A few links for further reading
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