RIL Shares Rise after Jio Announcement, Market Starts with Red Mark

The Indian stock market started on the red mark on the first trading day of the week. In the opening minutes of trading, the SENSEX fell by more than 100 points. Let us tell you that the markets were closed on Monday due to Bakrid.
RIL Shares Rise after Jio Announcement, Market Starts with Red Mark

The first trading day of the week for the Indian stock market started with ups and downs. In the first minutes of trading, the Sensex fell by more than 100 points and came down to 37,450. However, after some time, there was an increase of 200 points in the Sensex. Similarly, the Nifty started with a decline of 25 points. However, within 10 minutes the Nifty also hit the green mark. During the initial trading, the stock of Sensex Reliance Industries has gained more than 7 percent. At the same time, the shares of Airtel fell by 4 percent.

RIL's AGM impacts share

In fact, on Monday, Reliance Industries Chairman Mukesh Ambani addressed the Annual General Meeting. He told that the company has got the biggest investment in history. According to Mukesh Ambani, RIL has tied up with Saudi Aramco. Under this deal, Saudi Aramco will have a 20 percent stake in the petrochemical chemical business. Reliance Industries has also announced the sale of 49 per cent stake in its petrol pump business to the UK-based BP company.

The company will earn Rs 1.15 lakh crore from these deals and with this money it will be able to reduce its debt. Mukesh Ambani said that the company plans to become debt free in the next 18 months. With this Mukesh Ambani also announced the launch of broadband service 'Jio Giga Fiber'. Jio Fiber is the company's optical fiber fixed line based broadband service.

Let us tell you that the major stock markets of the country were closed on Monday on the occasion of Eid-ul-Azha (Bakrid). The last trading day for the market was Friday. On this day, the Sensex gained 254.55 points to close at 37 thousand 582. At the same time, the Nifty was also at 11 thousand 110 with a gain of 77.20 points.

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