Reliance Industries inches up as its arm planning to acquire 40.95% stake in Just Dial
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Reliance Industries is currently trading at Rs. 2122.95, up by 7.50 points or 0.36% from its previous closing of Rs. 2111.80 on the BSE.
The scrip opened at Rs. 2104.00 and has touched a high and low of Rs. 2124.00 and Rs. 2094.40 respectively. So far 1214063 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2368.80 on 16-Sep-2020 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. 2114.50 and Rs. 2075.15 respectively. The current market cap of the company is Rs. 1428013.94 crore.
The promoters holding in the company stood at 50.58%, while Institutions and Non-Institutions held 38.48% and 10.94% respectively.
Reliance Industries’ retail arm -- Reliance Retail Ventures (RRVL) is planning to acquire 40.95 percent stake in Just Dial for Rs 3,497 crore, bolstering its digital play in the rapidly growing online commerce market in India. The investment in Just Dial underlines the company's commitment to ‘new commerce’ by further boosting the digital ecosystem for millions of its partner merchants, micro, small and medium enterprises.
Reliance's investment in Just Dial, a 25-year old information search and listing company, is part of the telecom to petrochemicals conglomerate's digital bet. Over the past many quarters, Reliance has announced a number of investments in companies like Netmeds, Urban Ladder and others.
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.
