Due to strong global cues, the domestic stock market is seeing a good boom on the first trading day of the week. The Sensex gained 600 points to reach the level of 34,895. At the same time, the Nifty gained 180 points to reach the level of 10,322 beyond 10300. The Reliance Industries (RIL) stock reached a new 52-week high of Rs 1,624 with the investment of Abu Dhabi Investment Authority (ADIA) in Jio platforms. On Friday, US markets gained momentum due to better employment figures. At the same time, there is a boom in the major Asian markets.
The Abu Dhabi Investment Authority (ADIA) has invested Rs 5,683.50 crore for a 1.16 percent stake in Reliance Industries’ digital arm Jio Platforms. This is the eighth investment in Jio in less than seven weeks. With this, within 47 days, the combined investment in Jio reached close to one lakh crore rupees.
Reliance Industries has so far entered into deals to sell 21.06 per cent stake in Jio Platforms, bringing the company to Rs 97,885.65 crore. Earlier companies like Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala have invested in Jio platforms.