Reliance - Focus Merit

July 16, 2020

Mukesh Ambani surged past Silicon Valley tech titan Elon Musk as well as Alphabet co-founders Sergey Brin and Larry Page to become the world’s sixth-richest person.
The chairman of Reliance Industries, whose wealth surpassed Warren Buffett’s last week, is now worth $72.4 billion, according to the Bloomberg Billionaires Index.

July 16, 2020

Google will acquire a 7.7% stake in Jio Platforms worth Rs 33,737 crore.
For Google, this is the “first and biggest investment” from the recently announced $10-billion India fund by its CEO Sundar Pichai.
The two companies will jointly develop an operating system for an entry-level smartphone that will support 5G and target India’s 350 million feature-phone users.

July 14, 2020

Mukesh Ambani led Reliance Industries Ltd (RIL) has become the first Indian firm to hit a market capitalisation mark of Rs. 12 lakh crore.
The shares price of the company surged to a record high of Rs. 1,947 on 13 July 2020, after which the Market cap of the firm rose to Rs 12.32 lakh crore.
The increase in Reliance Industries m-cap comes after it secured deal with Qualcomm Ventures to invest in Jio Platforms for a 0.15 percent equity stake.
This is the 13th deal secured by Jio Platforms in a span of 12 weeks, bringing the total funds raised by the company to Rs 1.18 lakh crore.

July 12, 2020

US chipmaking giant Qualcomm’s venture arm has invested Rs 730 crore (approximately $97 million) in Jio Platforms for a 0.15 percent stake. This is the 13th foreign investment in Reliance’s $65 billion digital business in a span of 12 weeks.
The investment will deepen the ties between Qualcomm and Jio Platforms to support Jio Platforms on its journey to roll out advanced 5G infrastructure and services for Indian customers.

July 3, 2020

Reliance Industries has verified that Intel Capital has done an investment of Rs 1,894.50 crore in Jio Platforms. This investment turns into a 0.39% equity stake in Jio Platforms, with an equity value of Rs 4.91 lakh crore and an enterprise cost of Rs 5.16 lakh crore.

June 24, 2020

Haryana government and Reliance Jio TV have started an agreement that is expected to serve around 52 lakh school children in rural areas. This new agreement is made under the Chief Minister’s Distance Education Programme in order to extend education in rural areas without jeopardizing social distancing during the Covid-19 pandemic.

June 22, 2020

Reliance Industries (RIL) came up as the first Indian company to be valued at $150 billion. Saudi Aramco – heads the biggest companies globally with a market cap of $ 1,764.50 billion as on June 16, 2020.

June 21, 2020

The market valuation of Reliance Industries Ltd crossed Rs 11 lakh crore on after chairman Mukesh Ambani declared that his oil-to-telecom conglomerate had grown net debt-free. Reliance Industries is also the first Indian company to cross the Rs 11 lakh crore market valuation mark.

June 20, 2020

Mukesh Ambani has joined the list of top ten richest persons in the world, according to the Forbes Real-Time Billionaire list. Mukesh Ambani’s net worth raised by over 12 times from USD 5.3 billion to USD 64.6 billion (Rs 4.9 lakh crore).

June 18, 2020

Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32 percent of Jio Platforms, a well-known eleventh investment in the Reliance Industries Limited (RIL) digital unit in nine weeks.

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