Reliance Industries gains as its arm gets CCI’s approval for acquisition of stake in Sterling and Wilson Renewable Energy
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Reliance Industries is currently trading at Rs. 2399.25, up by 26.75 points or 1.13% from its previous closing of Rs. 2372.50 on the BSE.
The scrip opened at Rs. 2404.00 and has touched a high and low of Rs. 2408.00 and Rs. 2369.00 respectively. So far 134458 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. 1830.00 on 29-Jan-2021.
Last one week high and low of the scrip stood at Rs. 2474.50 and Rs. 2361.75 respectively. The current market cap of the company is Rs. 1621944.08 crore.
The promoters holding in the company stood at 50.61%, while Institutions and Non-Institutions held 38.79% and 10.60% respectively.
The Competition Commission of India (CCI) has approved the acquisition of shareholding in Sterling and Wilson Renewable Energy by Reliance New Energy Solar (RNESL), a wholly owned subsidiary of Reliance Industries (RIL). Reliance New Energy is seeking to acquire 40 percent of the total voting equity share capital. However, acquisition can go up to 51.07 per cent of equity share capital of Sterling and Wilson Renewable Energy in the eventuality of full acceptance of the open offer.
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.
