After hitting Rs 1,200-crore telecom deal with Anil Ambani's Reliance Communications, Mukesh Ambai-led Reliance Industries Ltd (RIL) has invested Rs 800 crore in Anil-led Reliance Mutual Fund's various mutual funds schemes.

The investments by RIL have been made in Reliance Mutual Fund's Fixed Maturity Plans (FMPs) and some debt schemes.

RIL invests a considerable portion of its surplus funds in mutual funds, but made no investment in Reliance Mutual fund's schemes since the division of the conglomerate in the year 2005. The recently made Rs
800-crore investment is the first since the separation.

On Tuesday, Reliance Communications announced its Rs 1,200-crore fibre optic network sharing deal with RIL's subsidiary Reliance Jio Infocomm.

The deal is expected to benefit both sides. The deal will allow RIL to use Reliance Communications' 120,000 kilometers of inter-city OFC infrastructure for one-time payment of Rs 1,200 crore. It will cost RIL Rs 1 lakh per kilometre, which is much lower than the cost that it would have to incur if it would build its own network.

Alok Shende, principal analyst at consulting firm Ascentius, said, "The deal has happened at the right time for RIL. All indications are that Jio would launch 4G services on December 28, the birthday of group founder Dhirubhai Ambani."

On Wednesday, RIL shares slipped 2.16 per cent to close at Rs 776.8 apiece, while stock in RCom gained 1.9 per cent to close Rs 64.5 a share.