RIL shares trading flat post acquisition of Karkinos Healthcare
RIL shares traded at Rs 1214.80 , down 0.50% in early deals against the previous close of Rs 1220.95 on BSE.
- Dec 30, 2024,
- Updated Dec 30, 2024 9:24 AM IST
Shares of Reliance Industries Ltd (RIL) were trading on a flat note in early deals on Monday even as the Mukesh-Ambani led conglomerate announced the acquisition of technology-led oncology platform Karkinos Healthcare for Rs 375 crore, through its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL), in an all-cash deal.
RIL shares traded at Rs 1214.80 , down 0.50% in early deals against the previous close of Rs 1220.95 on BSE. The stock has lost 6.10% in 2024. The stock gave double digit returns of 11.52% in three years.
The company's market cap slipped to Rs 16.45 lakh crore on BSE today. Total 8302 shares of the firm changed hands amounting to a turnover of Rs 1.01 crore on BSE.
The large cap stock is neither oversold nor overbought on charts with its RSI at 37.1.
In terms of moving averages, RIL shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day 150 day, and 200 day moving averages.
The stock has a beta of 1.2, indicating high volatility in a year.
"RSBVL has on December 27, 2024, subscribed to and has been allotted 10 million equity shares of Rs 10 each, for cash, aggregating Rs 10 crore and 365 million optionally fully convertible debentures of Rs 10 each, for cash, aggregating Rs 365 crore of Karkinos," RIL said in a filing to stock exchanges on Saturday.
RIL said that Karkinos has canceled the existing outstanding 30,075 equity shares held by the erstwhile shareholders of Karkinos in accordance with the approved resolution plan."Post-allotment of equity shares to RSBVL and cancellation of existing outstanding equity shares as above, Karkinos has become a step-down wholly-owned subsidiary of the company," the statement added.
Shares of Reliance Industries Ltd (RIL) were trading on a flat note in early deals on Monday even as the Mukesh-Ambani led conglomerate announced the acquisition of technology-led oncology platform Karkinos Healthcare for Rs 375 crore, through its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL), in an all-cash deal.
RIL shares traded at Rs 1214.80 , down 0.50% in early deals against the previous close of Rs 1220.95 on BSE. The stock has lost 6.10% in 2024. The stock gave double digit returns of 11.52% in three years.
The company's market cap slipped to Rs 16.45 lakh crore on BSE today. Total 8302 shares of the firm changed hands amounting to a turnover of Rs 1.01 crore on BSE.
The large cap stock is neither oversold nor overbought on charts with its RSI at 37.1.
In terms of moving averages, RIL shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day 150 day, and 200 day moving averages.
The stock has a beta of 1.2, indicating high volatility in a year.
"RSBVL has on December 27, 2024, subscribed to and has been allotted 10 million equity shares of Rs 10 each, for cash, aggregating Rs 10 crore and 365 million optionally fully convertible debentures of Rs 10 each, for cash, aggregating Rs 365 crore of Karkinos," RIL said in a filing to stock exchanges on Saturday.
RIL said that Karkinos has canceled the existing outstanding 30,075 equity shares held by the erstwhile shareholders of Karkinos in accordance with the approved resolution plan."Post-allotment of equity shares to RSBVL and cancellation of existing outstanding equity shares as above, Karkinos has become a step-down wholly-owned subsidiary of the company," the statement added.