Shares of Nifty 50 heavyweight Reliance Industries Ltd . (RIL) were among the top gainers on Monday, October 27, rising over 2% after the company announced a joint venture with Meta Platforms to develop enterprise artificial intelligence (AI) solutions.

RIL has formed a new subsidiary, Reliance Enterprise Intelligence Ltd. (REIL), in which it will hold a 70% stake, while Meta will own the remaining 30%.

The partnership involves an initial investment of around ₹855 crore (approximately $97 million). The announcement was made by Mukesh Ambani at the company's Annual General Meeting (AGM).

Brokerage Investec has a 'Buy' rating on RIL, with a price target of ₹1,890 per share.

The brokerage said that REIL represents a key milestone in Reliance's technology-led strategy under its "AI Every

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