Reliance Enterprise Intelligence Ltd has appointed Parminder Singh as its chief executive officer, according to a statement from Reliance Industries.
REIL, a joint venture between Reliance Industries and Meta Platforms, was incorporated in India on October 24, 2025, and focuses on developing, marketing and distributing sovereign AI solutions for Indian enterprises.
The venture aims to strengthen its presence in the fast-growing enterprise AI space. Reliance Intelligence holds a 70% stake in the company, while Facebook holds the remaining 30% equity.
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Meanwhile, brokerage JPMorgan has reiterated its bullish stance on Reliance Industries ahead of its March quarter results due on April 24, maintaining an ‘overweight’ rating with a price target of ₹1,675, implying an upside potential of around 22% from current levels.
Shares of Reliance Industries ended lower on Thursday, April 23, by 1.37% at ₹1,343.40 on the NSE.
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