Latest news with #JioBLAST
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Business Standard
10 hours ago
- Business
- Business Standard
Reliance Industries market cap surpasses ₹20 trillion-mark once again
Reliance Industries (RIL) shares climbed 2 per cent in trade on Thursday, logging an intraday high at ₹1,496.8 per share on BSE. The company's market capitalisation surpassed the ₹20 trillion level once again after September 27, 2024. At 2:09 PM, the company's market capitalisation stood at ₹20,25,540.5 crore. RIL share price was trading 2.01 per cent higher at ₹1,496.8 per share on the BSE. In comparison, the BSE Sensex was up 1.03 per cent at 83,608.71. Its 52-week high was at ₹1,608.95 per share and 52-week low was at ₹1,115.55 per share. In one year, RIL shares have lost 4 per cent as compared to Sensex's rise of 5 per cent. Why are RIL shares in demand? Reliance Industries chairman Mukesh Ambani, on Wednesday, said that the company is entering a new phase of growth powered by artificial intelligence and deep technology, calling it the group's next major leap after telecom and energy, according to reports. Ambani also revealed that the company has already built its 5G infrastructure completely in-house. On artificial intelligence, Ambani made it clear that Reliance will stay away from high-risk capital-heavy areas like GPUs, instead focus on downstream applications that align with national needs. In another development, RISE Worldwide, a subsidiary of RIL and BLAST Esports arm of BLAST ApS took their first step as a joint venture to conduct an esports business. The company informed through its exchange filing on Wednesday, after market hours. In accordance with the joint venture agreement, Jio BLAST has today allotted to BLAST Esports Limited 50,00,000 equity shares of face value of ₹10 each, at par, aggregating ₹5 crore. Consequent to the said allotment, the stake of RISE in Jio BLAST has reduced to 50 per cent. Jio BLAST has ceased to be a subsidiary of RIL and is now a joint venture company. RISE incorporated Jio BLAST eSports Private Limited (Jio BLAST) as its wholly owned subsidiary on April 18, 2025. "As a first step, RISE incorporated Jio BLAST eSports Private Limited ('Jio BLAST') as its wholly owned subsidiary on April 18, 2025. In accordance with the joint venture agreement, Jio BLAST has today allotted to BLAST Esports Limited 50,00,000 equity shares of face value of ₹10 each, at par, aggregating ₹5 crore. Consequent to the said allotment, the stake of RISE in Jio BLAST has reduced to 50 per cent. Jio BLAST has ceased to be a subsidiary of the Company and is now a joint venture company," the filing read.
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Business Standard
14 hours ago
- Business
- Business Standard
Reliance Industries market cap surpasses ₹20 trillion mark once again
Reliance Industries (RIL) shares climbed 2 per cent in trade on Thursday, logging an intraday high at ₹1,496.8 per share on BSE. The company's market capitalisation surpassed the ₹20 trillion level once again after September 27, 2024. At 2:09 PM, the company's market capitalisation stood at ₹20,25,540.5 crore. RIL share price was trading 2.01 per cent higher at ₹1,496.8 per share on the BSE. In comparison, the BSE Sensex was up 1.03 per cent at 83,608.71. Its 52-week high was at ₹1,608.95 per share and 52-week low was at ₹1,115.55 per share. In one year, RIL shares have lost 4 per cent as compared to Sensex's rise of 5 per cent. Why are RIL shares in demand? Reliance Industries chairman Mukesh Ambani, on Wednesday, said that the company is entering a new phase of growth powered by artificial intelligence and deep technology, calling it the group's next major leap after telecom and energy, according to reports. Ambani also revealed that the company has already built its 5G infrastructure completely in-house. On artificial intelligence, Ambani made it clear that Reliance will stay away from high-risk capital-heavy areas like GPUs, instead focus on downstream applications that align with national needs. In another development, RISE Worldwide, a subsidiary of RIL and BLAST Esports arm of BLAST ApS took their first step as a joint venture to conduct an esports business. The company informed through its exchange filing on Wednesday, after market hours. In accordance with the joint venture agreement, Jio BLAST has today allotted to BLAST Esports Limited 50,00,000 equity shares of face value of ₹10 each, at par, aggregating ₹5 crore. Consequent to the said allotment, the stake of RISE in Jio BLAST has reduced to 50 per cent. Jio BLAST has ceased to be a subsidiary of RIL and is now a joint venture company. RISE incorporated Jio BLAST eSports Private Limited (Jio BLAST) as its wholly owned subsidiary on April 18, 2025. "As a first step, RISE incorporated Jio BLAST eSports Private Limited ('Jio BLAST') as its wholly owned subsidiary on April 18, 2025. In accordance with the joint venture agreement, Jio BLAST has today allotted to BLAST Esports Limited 50,00,000 equity shares of face value of ₹10 each, at par, aggregating ₹5 crore. Consequent to the said allotment, the stake of RISE in Jio BLAST has reduced to 50 per cent. Jio BLAST has ceased to be a subsidiary of the Company and is now a joint venture company," the filing read.
