RIL block deal: BofA buys 2.9 lakh shares worth Rs 44 crore; company rolls out free Google AI access for Jio users
Bank of America (BofA) on Thursday purchased shares worth Rs 44 crore in Reliance Industries Ltd (RIL) through a block deal. According to Trendlyne data, BofA Securities Europe SA, an affiliate of the global financial institution, acquired 2.95 lakh equity shares of RIL at a price of Rs 1,475.5 per share.
The seller in the transaction was Kadensa Master Fund, which offloaded an equal quantity of shares at the same price. At close, RIL's stock fell 1.04 per cent to Rs 1,488.45 on BSE.
RIL, the country's largest company by market capitalisation (m-cap) at over Rs 20 lakh crore, also announced a major digital initiative on Thursday. The conglomerate said it would offer Jio users free access to Google AI Pro for 18 months, valued at Rs 35,100. The move is aimed at expanding access to artificial intelligence tools across India.
"Reliance Intelligence aims to make intelligence services accessible to 1.45 billion Indians. Through our collaboration with strategic and long-term partners like Google, we aim to make India not just AI-enabled but AI-empowered -- where every citizen and enterprise can harness intelligent tools to create, innovate and grow," RIL chairperson Mukesh Ambani said in a company statement.
Sundar Pichai, CEO of Google and Alphabet, said, "Reliance is a longstanding partner in Google's goal of advancing India's digital future – together we've brought affordable internet access and smartphones to millions. Now, we are bringing this collaboration into the AI era. Today's announcement will put Google's cutting-edge AI tools in the hands of consumers, businesses and India's vibrant developer community."
On the earnings front, RIL reported a 10 per cent year-on-year (YoY) growth in consolidated net profit at Rs 18,165 crore for the quarter ended September 2025, compared with Rs 16,563 crore in the same period last year. Revenue from operations rose 10 per cent to Rs 2.59 lakh crore from Rs 2.35 lakh crore, while gross revenue increased 10 per cent YoY to Rs 2.83 lakh crore.
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