Reliance Industries moves up as its arm selects Nokia, Ericsson as major suppliers for 5G radio access network

Reliance Industries is currently trading at Rs. 2450.00, up by 40.00 points or 1.66% from its previous closing of Rs. 2410.00 on the BSE.

The scrip opened at Rs. 2420.00 and has touched a high and low of Rs. 2463.00 and Rs. 2420.00 respectively. So far 154972 shares were traded on the counter.

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Reliance Industries

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2855.00 on 29-Apr-2022 and a 52 week low of Rs. 2181.00 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 2463.00 and Rs. 2343.60 respectively. The current market cap of the company is Rs. 1657668.53 crore.

The promoters holding in the company stood at 50.62%, while Institutions and Non-Institutions held 38.74% and 10.64% respectively

Reliance Industries’ telecom arm — Reliance Jio Infocomm (Jio) has selected Nokia and Ericsson as major suppliers for 5G radio access network (RAN) equipment in a multi-year deal. Nokia has a long-standing presence in India. With this deal, Nokia will be a supplier to India’s three largest mobile operators.

Under the contract, Nokia will supply equipment from its AirScale portfolio, including base stations, high-capacity 5G Massive MIMO (multiple input multiple output) antennas, and Remote Radio Heads (RRH) to support different spectrum bands, and self-organising network software.

Ericsson’s energy-efficient 5G Radio Access Network (RAN) products and solutions from Ericsson Radio System and E-band microwave mobile transport solution will be deployed in the 5G network for Jio. This is the first partnership between Jio and Ericsson for radio access network deployment in the country.

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.

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