Reliance Jio-Facebook Deal: Reliance Industries stock gains over 8%
Hello visitors, Reliance Industries’ share price took the market higher at an early date. Today social media company has announced that it will buy a minority stake in the Mukesh Ambani owned Telecom Reliance jio for 5.7 billion dollars approx rupees 43,574 crores. This deal will make Facebook the largest minority shareholder in jio platform Limited.
The shares of Reliance Industries to 8.3% in early deals on Wednesday after the Reliance jio company officially announced stake sale of its digital business to social media giant Facebook Inc. at 10:21 am. Reliance Industry traded at Rs.1,318.15, up 6.64 % on the BSE. The Facebook film by 9.9 % equity stake of jio platform.
Reliance jio and Facebook messaging platform WhatsApp will work closely to ensure that consumers can access the nearest Kirana shop which can provide products and services to their homes by buying with jioMart using WhatsApp. This will help people to interact with the company.
Jio now valued at dollar 65.95 billion in just less than 4 years after its official launch makes Reliance jio the top five listed companies in India according to market cap.
The total 4.11 lakh shares change hand on BSE amounting to the turnover of rupees 55.73 crore rupees market cap of the firm rose to rupees 8.32 lakh crore on BSE.
Facebook said it would focus on collaborating with Reliance jio with its messaging platform WhatsApp so to enable people to connect with small businesses via jioMart.