Reliance Jio To Construct Largest Submarine Cable System, Stock Edges Higher

Share price of Reliance Industries gained around two per cent on Tuesday, May 18, a day after the Mukesh Ambani-owned conglomerate announced that Reliance Jio Infocomm will construct the largest international submarine cable system in India. On Tuesday, Reliance Industries opened on the BSE at Rs 1,978, registering an intra day high of Rs 2,002.65 and an intra day low of Rs 1,972.10, in the trading session so far. According to a regulatory filing by the company to the stock exchanges, telecom subsidiary Reliance Jio will execute in conjunction with various key global partners and world-class submarine cable supplier SubCom.

According to the statement, Reliance Jio Infocomm, along with the major global players, currently deploying two next-generation cables to support the extraordinary growth in terms of data demand across the region. As per project details, for the very first time in the history of fiber optic submarine telecommunications, the systems will place the country at the center of the international network map. 

 For the first time in the history of fiber optic submarine telecommunications, these systems place India at the center of the international network map, recognizing India's increased importance, staggering growth, and the quantum shift in data use since the launch of Jio services in 2016.

On the NSE, Reliance Industries opened at Rs 1,981, witnessing an intra day high of Rs 2,002.60 and an intra day low of Rs 1,972.50, in the session so far. It was last trading 1.55 per cent higher at Rs 1,990.70 on the NSE.

Share price of Reliance Industries was last trading 1.53 per cent higher at Rs 1,990.50 on the BSE