27 Jun 2024

Reliance Industries rises as its arm acquires additional spectrum in 1800 MHz band in Bihar and West Bengal

Reliance Industries is currently trading at Rs 3056.00, up by 28.60 points or 0.94% from its previous closing of Rs. 3027.40 on the BSE.

The scrip opened at Rs. 3021.50 and has touched a high and low of Rs. 3069.25 and Rs. 3012.10 respectively. So far 52792 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3,069.25 on 27-Jun-2024 and a 52 week low of Rs. 2221.05 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 3069.25 and Rs. 2874.40 respectively. The current market cap of the company is Rs. 2048408.17 crore.

The promoters holding in the company stood at 50.31%, while Institutions and Non-Institutions held 39.24% and 10.45% respectively.

Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has acquired additional spectrum in the 1800 MHz band in Bihar and West Bengal, in the Spectrum Auction conducted by the Department of Telecommunications - Government of India.

With this acquisition, Jio has expanded its 1800 MHz band spectrum in two circles. Jio's spectrum footprint has increased to 26,801 MHz (uplink + downlink), solidifying its leadership position. Jio has already deployed the largest amount of spectrum pan-India on bandwidth efficient technologies like 4G and 5G, with this incremental spectrum acquired to address geography-specific demand and ensure the highest quality customer experience on its network.

Jio is the only operator in India to have access in low-band, mid-band and high-band (700 MHz, 3300 MHz and 26GHz) spectrum which gives it the unique advantage to provide a superlative experience to customers on 5G.  

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.