Powered by: Motilal Oswal
23/11/2020 11:59:53 AM | Source: IANS
Reliance shares jump 3% as Future Retail deal gets CCI nod
News By Tags | #1423 #133 #686 #572 #870
Reliance shares jump 3% as Future Retail deal gets CCI nod

The shares of Reliance Industries (RIL) surged over three per cent on Monday as the Competition Commission of India (CCI) has approved the proposed buyout of Future Group's retail assets by Reliance Retail Ventures Ltd.

Its shares on the BSE touched an intra-day high of Rs 1,970 per share.

At 11.42 a.m., the shares were trading at Rs 1,964.00, higher by Rs 64.80 or 3.41 per cent from its previous close.

Shares of Future Retail also surged on Monday. Currently, its stock price on the BSE is at Rs 79, higher by Rs 7.15 or 9.95 per cent from its previous close.

Despite Amazon's objections, the antitrust body has cleared the Future-Reliance deal and the development has given a boost to the investor sentiments

Announcing the decision on Twitter on Friday, CCI said, "Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited."
 

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here