RIL deal with Silver Lake - Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"US private equity firm Silver Lake's investment of Rs 5665 crore in RIL Jio Platforms coming close on the heels of a mega investment by the global tech major Facebook which made an investment of Rs 43574 crores in RIL Jio for a 9.99 % steak, is a clear reinforcement of faith by global majors in RIL. Going forward, RIL will be valued as a tech firm and not as a petroleum company. As RIL becomes a zero debt company soon, there will be increased demand for the stock from investors, both local and global."

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1435.4 as compared to the previous close of Rs. 1467.05. The total number of shares traded during the day was 978857 in over 36490 trades.

The stock hit an intraday high of Rs. 1464.9 and intraday low of 1419.75. The net turnover during the day was Rs. 1412912322.

Source : Equity Bulls

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