Last updated: 19 Jun, 2020 | 02:12 pm
Reliance Industries shares gained more than 6% on Friday afternoon to hit a new high of ₹1,788.60 after the firm announced that it has become a net-zero debt company much ahead of schedule. Chairman Mukesh Ambani had earlier promised to make the firm a net-zero debt company by March 2021.
How much has Jio Platforms raised in the last 60 days?
Jio Platforms has raised ₹1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020. The remaining amount was raised through the recent ₹53,125 crore rights issue, which went to the parent firm Reliance Industries.
Why is this significant?
Our VGQM model continues to have a HOLD rating on Reliance Industries.