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Facebook  and  Reliance Jio  hit the headlines early Wednesday morning, in a break from the daily lockdown  news.   Mark Zuckerberg  announced in a  Facebook  post that the technology giant will acquire a 9.99 per cent stake in Jio Platforms Ltd (JPL) through a fresh issue of shares worth Rs 43,574 crore. The deal values JPL—the holding company of  Reliance Jio  — at an enterprise value Rs 4.62 trillion. JPL’s equity value works out to Rs 4.36 trillion after Facebook’s investment, making it the fifth most valuable company in the country, behind its parent Reliance Industries (RIL), Tata Consultancy Services, Hindustan Unilever, and  HDFC Bank.  Considering the market value of RIL and JPL, the Street is valuing RIL’s remaining but core businesses of refining and petrochemicals and others such as retail at a lesser number of Rs 4.28 trillion. This makes JPL more valuable than the rest of RIL. Read Complete Article ...

Mukesh Ambani  promoted Reliance Industries on Monday announced an initial support of Rs 5 crore to the state’s chief minister relief fund. In addition, the company looks to ramp up production of face masks and other personal protective equipments (PPEs) for the health care sector, to aid India’s battle with Covid-19. The firm looks to boost its production capacities to produce 100,000 face-masks a day and a large number of personal protective equipments (PPEs), such as suits and garments. Through Reliance Life Sciences, the group has also started importing additional test kits and consumables for effective testing. In its statement, the company added, Sir H N Reliance Foundation Hospital in collaboration with the Brihanmumbai Municipal Corporation (BMC), has set up a dedicated 100-bedded centre at Seven Hills Hospital, Mumbai for patients who test positive for Covid-19. The statement said RIL has built a fully-equipped isolation unit in Lodhivali, Maharashtra and hande...

Reliance Industries  (RIL) on Thursday became the first Indian company to hit Rs 10 trillion market capitalisation (m-cap) after the stock price hit a new high of Rs 1,581.25 on the BSE. The oil-to-telecom conglomerate's m-cap zoomed to Rs 10,02,380 crore during the trade on the BSE. Minutes later, however, the m-cap slipped below Rs 10 trillion-mark. In the past eight trading days, RIL has outperformed the market by gaining 8 per cent, after Reliance Jio, the telecom arm of the company, said it will increase tariffs in next few weeks. In comparison, the S&P BSE Sensex has gained one per cent during the same period. "Like other operators, we will also work with the Government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including appropriate increase in tariffs in next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments," ...