Mega market player seals game-changing deal with Nokia: Powering the future of telecommunications!
The company has achieved returns of 42 per cent over the last three years.
On july 06,2023, the shares of Reliance Industries Limited surged 2.07 per cent. The 52-week high and low are Rs 2754.70 per share and Rs 2180 per share, respectively on BSE.
Reliance Jio Infocomm is on the verge of finalizing a significant agreement with Nokia, worth $1.7 billion, for the procurement of 5G network equipment. This development follows the Indian telecom operator's previous $2.1 billion equipment order from Ericsson, as part of its ambitious plan to deploy 5G technology throughout India in the current year.
Reliance Jio has already acquired 5G spectrum and is committed to investing $25 billion in establishing 5G infrastructure. Notably, this will establish its standalone mode as the exclusive holder of the 700 MHz band in the country, solidifying its position in the 5G market.
Reliance Industries Limited is the largest private sector organisation in India and a Fortune 500 company. It has progressed from a textile and polyester corporation to a multi-faceted player in energy, materials, retail, entertainment, and digital services. Reliance's product and service range affects nearly every Indian on a daily basis, across economic and social spectrums.
Dhirubhai Ambani started Reliance, which is now marketed and controlled by his eldest son, Mukesh Dhirubhai Ambani. Ambani's family owns around half of the firm.
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Nokia is a Finnish multinational company founded in 1865, specializing in telecommunications, IT, and consumer electronics, with headquarters in Espoo, Finland.
The company has attracted significant buying interest due to its outstanding returns of over 9 per cent in the past year, and it has achieved returns of 42 per cent over the last three years, further solidifying its position and trust among investors.