RRIL gains on getting nod to invest upto Rs 18 crore in Rishabrai Estate Developers
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RRIL is currently trading at Rs. 14.00, up by 0.08 points or 0.57% from its previous closing of Rs. 13.92 on the BSE.
The scrip opened at Rs. 13.90 and has touched a high and low of Rs. 14.40 and Rs. 13.71 respectively. So far 6969 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 5 has touched a 52 week high of Rs. 19.80 on 30-Nov-2022 and a 52 week low of Rs. 11.00 on 21-Oct-2022.
Last one week high and low of the scrip stood at Rs. 14.70 and Rs. 13.55 respectively. The current market cap of the company is Rs. 170.91 crore.
The promoters holding in the company stood at 69.48%, while Non-Institutions held 30.52% stake in the company.
RRIL has received approval to invest upto Rs 18 crore in Rishabrai Estate Developers (Group Company) engaged into ReaI Estate. Time period for completion of the acquisition is on or before June 30, 2023. The board of directors at its meeting held on March 13, 2023 has considered and approved the same.
RRIL has diversified its business into textile. The company has focused on trading in Textile fabrics, cotton yarns and undertakes redevelopment of residential properties in and around Mumbai.
