Reliance Industries is up very strongly in the green. The stock, which had closed yesterday at Rs.943.10, opened higher today at Rs.951 and went on to hit an intraday high at Rs.1035, which was very close to its 10% UC for today at Rs.1037.40.
The stock has surged even in this tumultuous market on news that Facebook is eyeing a stake in Jio but for now the talks are suspended due to the virus.
The news is that Facebook was close to signing a preliminary deal for a 10% Jio but has now been pushed back due to the coronavirus outbreak.
Google had also been engaged in separate talks with Reliance Jio, which comes after Microsoft last year announced plans to partner with Jio to offer cloud computing to businesses.