Reliance Industries inches up as its arm enters into strategic partnership with Delta Galil Industries
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Reliance Industries is currently trading at Rs. 2931.45, up by 8.45 points or 0.29% from its previous closing of Rs. 2923.00 on the BSE.
The scrip opened at Rs. 2928.95 and has touched a high and low of Rs. 2932.05 and Rs. 2923.00 respectively. So far 9124 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3217.90 on 08-Jul-2024 and a 52 week low of Rs. 2221.05 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 3052.05 and Rs. 2912.50 respectively. The current market cap of the company is Rs. 1977768.74 crore.
The promoters holding in the company stood at 50.33%, while Institutions and Non-Institutions held 39.24% and 10.43% respectively.
Reliance Industries’ subsidiary -- Reliance Retail Ventures and Delta Galil Industries have entered into strategic partnership in India. This collaboration, marked by a 50/50 joint venture, aims to redefine the apparel landscape in the Indian market.
The partnership intends to establish an apparel innovation platform dedicated to meeting the unique demands of Indian consumers. Delta Galil, renowned for its innovation and product excellence, will leverage this venture to expand its footprint in the rapidly growing Indian market, offering its acclaimed portfolio of intimate apparel and activewear brands across retail, wholesale and digital channels. Through the collaboration, Delta Galil will also support the joint venture, which will design and manufacture products for Reliance’s own well-established brands.
As the largest retail company in India, Reliance Retail wields unparalleled domestic sales and distribution expertise. The joint venture will enable Reliance Retail to tap into Delta Galil’s deep industry expertise and innovation capabilities in intimate apparel and activewear, key product categories that are poised to grow significantly in the Indian market.
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.
