Reliance Industries Block Deal: BofA Acquires Stake Worth Rs 44 Crore
BofA bought 2.95 lakh shares through its affiliate bought Reliance industries shares at a price of Rs 1,475.5 per piece.
Bank of America on Thursday acquired shares in Reliance Industries Ltd. through a block deal for Rs 44 crore, according to data on the NSE.
The company bought 2.95 lakh shares through its affiliate BofA Securities Europe SA at a price of Rs 1,475.5 per piece. BofA bought the shares from Kadensa Master Fund.
Google has partnered with Reliance to offer the 18-month plan worth Rs 35,000 per user on a complimentary basis, which is part of their "expansive strategic partnership to accelerate the adoption of Artificial Intelligence (AI) across India".
Users will have access to the Gemini 2.5 Pro model in the Gemini app, which has higher limits to generate images and videos with the Nano Banana and Veo 3.1 models. It also has expanded access to Notebook LM for study and research, and 2 TB of cloud storage among other details.
They can activate this offer through the MyJio app. The rollout begins with an early access phase for 18- to 25-year-old users on unlimited 5G plans.
It will then expand to include every Jio customer across India, in the "shortest time possible."
“Reliance Intelligence aims to make intelligence services accessible to 1.45 billion Indians. Through our collaboration with strategic and long-term partners like Google, we aim to make India not just AI-enabled but AI-empowered - where every citizen and enterprise can harness intelligent tools to create, innovate and grow," said Mukesh Ambani, Chairman, Reliance Industries Ltd.
Reliance Industries Share Price Today
The stock settled 1.04% higher at Rs 1,488.50 apiece on the NSE, compared to a 0.68% decline in the benchmark Nifty 50. The shares earlier during the day fell as much as 1.34% to Rs 1,484 per share.
Reliance Industries' shares have risen 10.76% in the last 12 months and 22.46% year-to-date.
Out of 38 analysts tracking the company, 36 maintain a 'buy' rating and two suggests 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 1,684 implies an upside of 13.1%.
