NEW DELHI: Shares of Reliance Industries rose nearly 2 percent on Friday after the announcement that Intel Capital will buy 0.39 percent stake in Jio Platforms.
The heavyweight stock jumped 1.53 percent to close at Rs 1,787.50 on the BSE.
During the day, it gained 1.83 percent to trade at Rs 1,792.80. On the NSE, the stock rose 1. 57 percent to settle at Rs 1,788. The company's market valuation jumped by Rs 17,109.55 crore to Rs 11,33,168. 55 crore on the BSE.
In terms of volume, 8.57 lakh shares were traded on the BSE and 1.35 crore on the NSE.
Electronic chip maker Intel's investment arm, Intel Capital, will buy 0.39 percent stake in Mukesh Ambani's digital unit, Jio Platforms, for Rs 1,894.50 crore, the company said on Friday.
Intel Capital is the 12th company to join the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to Rs 1,17,588.45 crore.
"Intel Capital will invest Rs 1,894.0 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, Reliance Industries and Jio Platforms said in a joint statement. Intel Capital's investment will translate into a 0.39 percent equity stake in Jio Platforms on a fully diluted basis.