Mr. Jyoti Roy, DVP Equity Strategist, Angel Broking Ltd on the Silver Lake - JIO Deal

"We believe that the recent deals with Facebook and Silver lake along with the proposed rights issue is in line with the company's strategy of deleveraging the balance sheet. Large investments by global tech companies would not only help deleverage the balance sheet but also give confidence to the markets about the future prospects of the company. Going forward we believe that Jio Platform along with the Reliance Retail would be the key value drivers for the company."

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1467.05 as compared to the previous close of Rs. 1426.2. The total number of shares traded during the day was 1277127 in over 47637 trades.

The stock hit an intraday high of Rs. 1494.5 and intraday low of 1440. The net turnover during the day was Rs. 1876995490.

Source : Equity Bulls

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