112th Day Of Lockdown

Maharashtra26766514900710695 Tamil Nadu147324973102099 Delhi115346932363446 Karnataka4407717391846 Gujarat43723305552070 Uttar Pradesh3972424981983 Telangana3774524840375 Andhra Pradesh3301917467408 West Bengal3283819931980 Rajasthan2557119169524 Haryana2262817090312 Madhya Pradesh1900513575673 Bihar1885313019143 Assam178081217451 Odisha14280986496 Jammu and Kashmir111736223195 Kerala8931443835 Punjab85115663213 Chhatisgarh4379327520 Jharkhand4225242836 Uttarakhand3686286750 Goa2753160718 Tripura218315382 Manipur167210200 Puducherry153182918 Himachal Pradesh130993810 Nagaland8963460 Chandigarh60044610 Arunachal Pradesh3871453 Meghalaya318462 Mizoram2381590 Sikkim211860
Business Companies 13 Aug 2019 RIL shares zoom to d ...

RIL shares zoom to decade high after company announces plan to turn debt-free

PTI
Published Aug 13, 2019, 12:54 pm IST
Updated Aug 13, 2019, 1:40 pm IST
The scrip opened the day on a bullish note and jumped 12.09 per cent to Rs 1,302.50 on the BSE.
The twin deals along with deleveraging of telecom arm Jio's infrastructure assets will help Reliance become "a zero-net debt company within the next 18 months, that is by March 31, 2021, Reliance Industries chairman Mukesh Ambani said at the company's annual general meeting.
 The twin deals along with deleveraging of telecom arm Jio's infrastructure assets will help Reliance become "a zero-net debt company within the next 18 months, that is by March 31, 2021, Reliance Industries chairman Mukesh Ambani said at the company's annual general meeting.

New Delhi: The scrip of Reliance Industries Ltd (RIL) on Tuesday zoomed over 12 per cent after the company announced a host of investment proposals at its annual general meeting.

The scrip opened the day on a bullish note and jumped 12.09 per cent to Rs 1,302.50 on the BSE.

 

It was the top gainer among the 30 front line companies on the index.

On the NSE, it climbed 12.10 per cent to Rs 1,302.80.

Market was closed on Monday on account of Bakri Id.

Reliance Industries chairman Mukesh Ambani on Monday announced plans to sell stakes in the firm's oil and chemicals business to Saudi oil giant Aramco and in fuel retail network to BP plc for Rs 1.15 lakh crore, and said its telecom unit Jio will begin offering fibre-based broadband services from next month.

Saudi Aramco will buy a 20 per cent stake in the oil and chemicals business of Reliance, including the 1.36 million barrels a day Jamnagar refining complex in Gujarat, for an enterprise value of USD 75 billion. BP will buy 49 per cent stake in the firm's 1,400 petrol pumps and aviation fuel selling facilities at 31 airports for another Rs 7,000 crore.

 

The twin deals along with deleveraging of telecom arm Jio's infrastructure assets will help Reliance become "a zero-net debt company within the next 18 months, that is by March 31, 2021", Ambani said at the company's annual general meeting (AGM).

Ambani also announced roll out of the fiber-based fixed-line broadband services from September 5, offering internet speed of at least 100 mbps and free voice calls for life for as low as Rs 700 per month.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT