Reliance Industries jumps as its arm to participate in 5G spectrum bidding process
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Reliance Industries is currently trading at Rs. 2408.65, up by 31.35 points or 1.32% from its previous closing of Rs. 2377.30 on the BSE.
The scrip opened at Rs. 2389.70 and has touched a high and low of Rs. 2434.50 and Rs. 2377.50 respectively. So far 192146 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2855.00 on 29-Apr-2022 and a 52 week low of Rs. 2016.60 on 28-Jul-2021.
Last one week high and low of the scrip stood at Rs. 2439.00 and Rs. 2370.30 respectively. The current market cap of the company is Rs. 1630435.41 crore.
The promoters holding in the company stood at 50.66%, while Institutions and Non-Institutions held 38.63% and 10.71% respectively.
Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has applied to participate in the July 26, 2022 auction of 5G spectrum bidding process. It has shown a net worth of Rs 1,97,790 crore as on March 31, 2022. A total of 72,097.85 MHz of spectrum worth at least Rs 4.3 lakh crore will be put on the block during the auction. The auction will be held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz) and high (26 GHz) frequency bands.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
