Reliance Industries rises as its arm inks pact with SpaceX for Starlink Internet
Reliance Industries is currently trading at Rs. 1251.00, up by 3.60 points or 0.29% from its previous closing of Rs. 1247.40 on the BSE.
The scrip opened at Rs. 1256.85 and has touched a high and low of Rs. 1261.55 and Rs. 1246.65 respectively. So far 199842 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1608.95 on 08-Jul-2024 and a 52 week low of Rs. 1156.00 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 1261.55 and Rs. 1185.50 respectively. The current market cap of the company is Rs. 1692899.85 crore.
The promoters holding in the company stood at 50.13%, while Institutions and Non-Institutions held 38.31% and 11.55% respectively.
Reliance Industries’ subsidiary -- Jio Platforms (JPL) has inked an agreement with SpaceX to offer Starlink’s broadband internet services to its customers in India. This agreement, which is subject to SpaceX receiving its own authorizations to sell Starlink in India, enables Jio and SpaceX to explore how Starlink can extend Jio’s offerings and how Jio can complement SpaceX’s direct offerings to consumers and businesses. Jio will make Starlink solutions available through its retail outlets as well as through its online storefronts.
Through this agreement, the parties will leverage Jio’s position as the world's largest mobile operator in terms of data traffic and Starlink’s position as the world’s leading low Earth orbit satellite constellation operator to deliver reliable broadband services across the country, including the most rural and remote regions of India. Jio will not only offer Starlink equipment in its retail outlets but will establish a mechanism to support customer service installation and activation.
The agreement with SpaceX is part of Jio’s commitment to ensuring that reliable internet is fully accessible to all enterprises, small and medium businesses, and communities across India. Starlink complements JioAirFiber and JioFiber by extending high speed internet to the most challenging of locations in a quick and affordable manner.
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.
