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Reliance Industries rises as its arm gets $2.2 billion fund support from Swedish export credit agency

Aug-07-2023   14:04 Hrs IST

Reliance Industries is currently trading at Rs. 2519.30, up by 9.15 points or 0.36% from its previous closing of Rs. 2510.15 on the BSE.

The scrip opened at Rs. 2515.00 and has touched a high and low of Rs. 2528.35 and Rs. 2505.05 respectively. So far 228922 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2,635.17 on 19-Jul-2023 and a 52 week low of Rs. 2,012.14 on 20-Mar-2023.

Last one week high and low of the scrip stood at Rs. 2559.00 and Rs. 2458.00 respectively. The current market cap of the company is Rs. 1704991.81 crore.

The promoters holding in the company stood at 50.39%, while Institutions and Non-Institutions held 38.86% and 10.76% respectively.

Reliance Industries’ subsidiary -- Reliance Jio Infocomm (Jio) has received a $2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout. The company has largely procured telecom gears from Swedish firm Ericsson and Finnish company Nokia to deploy its 5G network. While there has been a decline in telecom gear shipment across major geographies, 5G rollout in India led by Reliance Jio has been able to offset the dip in business of Ericsson and Nokia. 

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.