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Friday, February 26, 2021

Intel Capital, Investment Arm Of Intel Corp. [NASDAQ: INTC] To Buy 0.39% Stakes In Jio Platforms

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Reliance Industries Limited and Jio Platforms Ltd have declared today Intel [NASDAQ: INTC] division Intel Capital will invest ₹ 1,894.50 crores in Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore.

Jio platforms has secured ($253 million) 18.95 billion rupees from Intel Corporation. Jio platforms have also gathered 1.18 trillion rupees from other investors other than Intel Corporation.

INTC has joined the queue of investors who have recently invested in Jio Platforms, taking the total investment valued to ₹ 117,588.45 crores. A wholly-owned unit of Reliance Industries, Jio Platforms has more than 388 million subscribers. It is a next-generation technology firm striving to provide high-quality and affordable digital services across India.

Intel corporation division Intel Capital invests in firms around the world. Its main focus is cloud computing, Artificial intelligence, and 5G technologies. Intel has worked in India for more than two decades. It has more than a thousand employees there with modern facilities in Hyderabad and Bengaluru.

Jio Platforms Chairman and Managing Director Mukesh Ambani has also said that the firm is looking forward to work with companies that are involved in the transformation of India into leading Digital Society. Reliance Industries Ltd has a market capitalization of 11.63 trillion. Its profit margin is 4.66%.

Intel Capital is looking forward to work with Jio Platforms. Intel Capital President said: “Through this investment, we are excited to help promote digital transformation in India, where Intel maintains a significant presence.”

Intel’s shares soared 0.54% and up +0.32 during the last trading session of Thursday. It has a day low and high range of 58.97-59.81, respectively. Intel’s shares closed at $59.13. It has recorded the trading volume of roughly 15.57 million as compared to the average volume of roughly 25.12 million.

Intel Corp. has valued at 254.75 billion. Its gross margin is 59.50%, the profit margin is 30.00%, and an operating margin of 32.90%. INTC has increased 35.53% from its 52-weeks low and moved down -14.66% from its 52-weeks high.

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