RIL jumps 18% in three days

Reliance Industries jumped 6.23% to Rs 1457, extending its winning run to third consecutive trading session.

RIL has gained 17.88% in last three trading sessions from its previous closing low of Rs 1236.05 on 21 April 2020.

RIL, Jio Platforms and Facebook Inc. on 22 April 2020 announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. This investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value. Facebook's investment will translate into a 9.99% equity stake in Jio Platforms on a fully diluted basis.

The partnership between Facebook and Jio will focus on India's 60 million micro, small and medium businesses, 120 million farmers, 30 million small merchants and millions of small and medium enterprises in the informal sector, in addition to empowering people seeking various digital services.

RIL has jumped 19% this week from its previous Friday closing of Rs 1225.05 on BSE. Meanwhile, the S&P BSE Sensex has moved 0.07% higher in the same time period.

RIL is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, telecom and digital services.

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