Reliance Industries moves up as its arm acquires 100% stake in Nauyaan Tradings
Reliance Industries is currently trading at Rs. 1278.60, up by 10.05 points or 0.79% from its previous closing of Rs. 1268.55 on the BSE.
The scrip opened at Rs. 1270.05 and has touched a high and low of Rs. 1284.50 and Rs. 1270.05 respectively. So far 262064 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1608.95 on 08-Jul-2024 and a 52 week low of Rs. 1156.00 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 1284.50 and Rs. 1233.25 respectively. The current market cap of the company is Rs. 1728219.34 crore.
The promoters holding in the company stood at 50.13%, while Institutions and Non-Institutions held 38.31% and 11.55% respectively.
Reliance Industries’ wholly owned subsidiary -- Reliance Strategic Business Ventures (RSBVL) has acquired 100% equity stake in Nauyaan Tradings (NTPL) for an aggregate consideration of Rs 1 lakh from Welspun Tradings, a wholly owned subsidiary of Welspun Corp (WCL). Consequently, NTPL has become a step down wholly owned subsidiary of the Company effective from March 20, 2025.
Further, NTPL (post-acquisition by RSBVL) has entered into a share purchase agreement with WCL to acquire from WCL 74% equity stake in Nauyaan Shipyard (NSPL) for an aggregate consideration of Rs 382.73 crore, subject to adjustments, if any, for expenses to the account of WCL and net current assets. The acquisition of 74% equity shares in NSPL is expected to be completed by March 21, 2025.
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.
