Reliance Industries rises with arm transferring control of fibre, mobile tower units to RIIHL trusts

Reliance Industries is currently trading at Rs. 1389.50, up by 1.05 points or 0.08% from its previous closing of Rs. 1388.45 on the BSE.

The scrip opened at Rs. 1394.45 and has touched a high and low of Rs. 1402.35 and Rs. 1387.50 respectively. So far 471939 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1406.50 on 01-Apr-2019 and a 52 week low of Rs. 886.10 on 03-Apr-2018.

Last one week high and low of the scrip stood at Rs. 1406.50 and Rs. 1343.35 respectively. The current market cap of the company is Rs. 882726.50 crore.

The promoters holding in the company stood at 47.19%, while Institutions and Non-Institutions held 36.49% and 16.31% respectively.

Reliance Industries’ telecom arm — Reliance Jio Infocomm (Jio) has transferred control of its fibre and mobile tower units to two infrastructure investment trusts set up by Reliance Industrial Investments and Holdings (RIIHL).

The optical fibre cable infrastructure unit, Jio Digital Fibre (JDFPL) has allocated shares worth Rs 500 crore to Jio on March 31, 2019. Also, mobile tower unit Reliance Jio Infratel (RJIPL) has allocated shares worth Rs 200 crore to Jio.

Digital Fibre Infrastructure Trust has acquired control of JDFPL by purchasing 51 per cent of the equity share capital of JDFPL for Rs 262.65 crore. Besides, Tower Infrastructure Trust acquired control of RJIPL by purchasing 51 per cent of shares of RJIPL for Rs 109.65 crore.

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.

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