Reliance Industries gains as its arm gets CCI nod for stake buy in SCIPL

Reliance Industries is currently trading at Rs. 2588.95, up by 5.85 points or 0.23% from its previous closing of Rs. 2583.10 on the BSE.

The scrip opened at Rs. 2597.45 and has touched a high and low of Rs. 2608.55 and Rs. 2567.55 respectively. So far 117041 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2855.00 on 29-Apr-2022 and a 52 week low of Rs. 2064.15 on 03-Aug-2021.

Reliance Industries
Reliance Industries

Last one week high and low of the scrip stood at Rs. 2606.50 and Rs. 2421.10 respectively. The current market cap of the company is Rs. 1750937.76 crore.

The promoters holding in the company stood at 50.62%, while Institutions and Non-Institutions held 38.74% and 10.64% respectively.

The Competition Commission of India (CCI) has approved acquisition of 50.1% of the equity share capital of Sanmina-SCI India (SCIPL) by Reliance Strategic Business Ventures (RSBVL), a subsidiary of Reliance Industries. The proposed combination envisages acquisition of 50.1% of the equity share capital of SCIPL by RSBVL.

RSBVL’s principal activities are trading of goods, holding strategic investment interests in businesses and providing business support services.

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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