RIL's m-cap increases by Rs 1.5 trillion in four days post Facebook deal
Shares of Reliance Industries (RIL) gained 4 per cent to Rs 1,475 on the BSE on Monday in the early morning deal. The stock has surged 19 per cent in the past four trading days after the company announced $5.7 billion equity deal with Facebook. In comparison, the benchmark S&P BSE Sensex has gained 4.1 per cent during the same period. RIL on Wednesday, April 22, 2020 announced that Facebook would invest Rs 43,547 crore ($5.7 billion) in the company’s wholly-owned subsidiary Jio Platforms to expand its presence in India. A sharp rally in stock price has seen the market captialisation (market-cap) of RIL increase by Rs 1.5 trillion in four trading days. The company’s market-cap stood at Rs 9.35 trillion in the intra-day trade today, from Rs 7.83 trillion on April 21, 2020, the exchange data shows. The stock hit a two-month high today and has recovered 68 per cent from its last month low of Rs 876 touched on March 23, in an intra-d...