Shares of Reliance Industries Jump
Shares of Reliance Industries (RIL) surged more than 4.5% on the BSE on Monday, reaching a new 52-week high of Rs 2,755. The jump came following the announcement by the energy-to-telecom conglomerate that it had set July 20 as the record date for the demerger of its financial services arm, Reliance Strategic Investments.
Reliance Industries (RIL)
Reliance Industries (RIL) is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra. It was founded by Dhirubhai Ambani in 1960 and is currently led by his son, Mukesh Ambani. RIL operates in various sectors, including energy, petrochemicals, refining, oil and gas exploration, telecommunications, media, and retail.
The company’s flagship business is its refining and petrochemicals segment, which operates one of the largest refining complexes in the world. RIL also has a significant presence in the telecommunications industry through its subsidiary, Reliance Jio Info COMM Limited. Reliance Jio revolutionized the Indian telecom sector by offering affordable mobile data and voice services.
In recent years, RIL has diversified into other sectors, including e-commerce, digital services, and renewable energy. It has made strategic investments in companies such as Reliance Retail, Jio Platforms, and Reliance Digital. RIL’s retail arm, Reliance Retail, is one of the largest retail chains in India, operating a wide range of stores across various formats.
The company has been a major player in driving India’s digital transformation and has launched several initiatives to bring affordable internet access and digital services to millions of people. RIL has also been investing in renewable energy projects, aiming to become a net-zero carbon company by 2035.
RIL is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India and is one of the most valuable companies in India by market capitalization. It has a strong track record of growth and innovation and continues to play a significant role in shaping India’s economy.
