The market valuation of Reliance Industries jumped by Rs 69,556.91 crore to Rs 20,51,590.51 crore while in contrast, the mcap of Infosys declined by Rs 5,494.8 crore to Rs 6,68,256.29 crore.
At close, Sensex was up 443.79 points or 0.55% at 81,442.04, and the Nifty was up 130.70 points or 0.53% at 24,750.90.
Mukesh Ambani, Chairman and MD of Reliance Industries, on Friday announced that Reliance will invest over Rs 75,000 crore in North Eastern states over the next five years.
Reliance Industries has secured a dual-currency loan worth the equivalent of USD 2.9 billion, according to a report by Bloomberg.
Following the ‘Operation Sindoor’ strike on Tuesday, producers and banners have filed trademark applications to secure the title for media productions.
This is the second investment announced in half an hour by Reliance Retail Ventures around midnight, the earlier one being by GIC of Singapore.
GIC will be the fifth investor in Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries.
This figure excludes the $10.2 billion in strategic investments by Silicon Valley tech giants Google and Facebook.
Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels.
Reliance Retail Ltd, a Subsidary of RRVL, operates about 12,000 stores in nearly 7,000 towns, with 640 million footfalls.
