Reliance Industries spurts as its arm acquires stake in SWREL
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Reliance Industries is currently trading at Rs. 2383.40, up by 48.00 points or 2.06% from its previous closing of Rs. 2335.40 on the BSE.
The scrip opened at Rs. 2355.00 and has touched a high and low of Rs. 2384.90 and Rs. 2355.00 respectively. So far 41660 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. 2504.10 and Rs. 2305.05 respectively. The current market cap of the company is Rs. 1607667.84 crore.
The promoters holding in the company stood at 50.61%, while Institutions and Non-Institutions held 38.54% and 10.85% respectively.
Reliance Industries’ wholly owned subsidiary -- Reliance New Energy (RNEL) (formerly known as Reliance New Energy Solar) has completed the acquisition from the public shareholders of Sterling and Wilson Renewable Energy (SWREL) of 84,76,251 equity shares of SWREL of face value of Rs 1 each at a price of Rs 375 per equity share aggregating Rs 317.85 crore pursuant to the open offer made by RNEL (together with the Company and Reliance Ventures, as persons acting in concert with RNEL), under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Consequent to such acquisition, RNEL holds 29.63% of the total paid-up equity share capital of SWREL.
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.
