Reliance Industries gains after its arm takes over operations of at least 200 stores of Future Retail
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Reliance Industries is currently trading at Rs. 2298.00, up by 14.05 points or 0.62% from its previous closing of Rs. 2283.95 on the BSE.
The scrip opened at Rs. 2247.05 and has touched a high and low of Rs. 2303.00 and Rs. 2245.00 respectively. So far 141284 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2750.00 on 19-Oct-2021 and a 52 week low of Rs. 1877.60 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 2436.80 and Rs. 2242.50 respectively. The current market cap of the company is Rs. 1548059.43 crore.
The promoters holding in the company stood at 50.62%, while Institutions and Non-Institutions held 38.54% and 10.85% respectively.
Reliance Industries’ subsidiary -- Reliance Retail has taken over the operations of at least 200 stores of Future Retail and has offered jobs to its employees after the Kishore Biyani-led group failed to make lease payments to landlords.
Reliance Retail, the retail arm of the oil-to-telecom conglomerate, had in August 2020 agreed to take over the retail and logistics business of the Future Group for Rs 24,713 crore but the deal couldn't be closed as Future's warring partner Amazon went to courts citing violation of some contracts, while Future denied any wrongdoing.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
