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Mukesh Ambani earned Rs 80,445 crore from ‘shopping’ worth Rs 973 crore, know how

Sagar Patel

By Sagar Patel

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The two-day 5G spectrum auction has ended. In which the country’s telecommunications companies presented offers to acquire spectrum. If we talk about Mukesh Ambani’s Jio, then it bought additional spectrum in the 1800 MHz band in two days. Mukesh Ambani spent Rs 973 crore on these purchases. What is special is that Mukesh Ambani’s Reliance Industries made a profit of Rs 80,445 crore on Wednesday. In fact, a 4 per cent rise has been seen in Reliance Industries shares. Let us also tell you what kind of expenditure Mukesh Ambani has incurred in purchasing spectrum. On the other hand, how did Reliance Industry make a profit of over Rs 80 billion?

extra spectrum acquired

In the spectrum auction conducted by the Department of Telecom, digital service provider Jio won additional spectrum in the 1800 MHz band for Bihar and West Bengal. Providing information to exchanges on Wednesday, Reliance Industries said the purpose of the newly acquired spectrum is to meet specific geographic demand and provide high-quality customer experience on its network.

How and where was the money spent?

In Bihar, 5.0 MHz paired spectrum was acquired at a cost of Rs 420.25 crore. Meanwhile, West Bengal acquired 9.4 MHz paired spectrum at a cost of Rs 553.38 crore. In total, 14.4 MHz paired spectrum was acquired at a combined cost of Rs 973.63 crore. However, the company has said that these figures are still temporary. Under the terms of the auction, the cost of the spectrum can be paid in 20 equal annual installments. In which companies will have to pay interest of 8.65 percent each year.

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Record rise in Reliance shares

On the other hand, amid record highs in the stock markets, shares of Reliance Industries rose four per cent on Wednesday. What is special is that the shares of Mukesh Ambani company reached a record high during the trading session. Shares of the market giant closed 4.09 per cent higher at Rs 3,027.40 on BSE. During the trading day, it hit a record high of Rs 3,037 with a jump of 4.41 percent. On NSE it rose 3.87 per cent to Rs 3,021.10.

Market capitalization increased a lot

On the other hand, due to the increase in the company’s shares, an increase in market capitalization was also observed. It reached a record level after the market closed. When the market closed, there was an increase of Rs 80,445 crore in the market capitalization of the company. After which the market capitalization of the company reached Rs 20,48,282.28 crore. What is special is that Reliance is the only company in the country whose market capitalization exceeds Rs 20 lakh crore. After that, the number is from TCS. Which is currently far behind Reliance Industries.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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