Reliance Industries rises after CCI gives green signal for merger of its media assets with Walt Disney
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Reliance Industries is currently trading at Rs. 3011.20, up by 15.45 points or 0.52% from its previous closing of Rs. 2995.75 on the BSE.
The scrip opened at Rs. 3014.95 and has touched a high and low of Rs. 3016.10 and Rs. 2988.00 respectively. So far 55346 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. 3046.15 and Rs. 2985.35 respectively. The current market cap of the company is Rs. 2034943.37 crore.
The promoters holding in the company stood at 50.33%, while Institutions and Non-Institutions held 39.24% and 10.43% respectively.
Competition Commission of India (CCI) has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country’s largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties. However, the CCI did not disclose voluntary modifications in the original deal made by the two parties.
Under the deal, Reliance and its affiliates will hold a 63.16 per cent stake in the combined entity that will house two streaming services and 120 television channels. Walt Disney will hold the remaining 36.84 per cent stake.
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.
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