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Reliance Industries share top gainer on NSE, BSE today; here's why

Shares of index heavyweight Reliance Industries jumped 1.6% on Friday's session to hit an intraday high of Rs 2,156.50 on BSE against the last closing value of Rs 2,122.30. Currently, the shares trade 2.6% away from 52-week high of Rs 2198.7

twitter-logoBusinessToday.In | August 14, 2020 | Updated 14:23 IST
Reliance Industries share top gainer on NSE, BSE today; here's why
Stock price of Reliance Industries has jumped 11% in one month and 41% since the beginning of the year

Reliance Industries share price was trading as the top gainers on NSE, BSE today. RIL stock has gained after 2 days of consecutive fall.

The rise in the share price of Reliance Industries came on news that its Chairman Mukesh Ambani, now worth more than $80 billion, was planning to set up a 'family council', which will implement a governance structure in India's biggest business house's succession plan.

Shares of index heavyweight Reliance Industries jumped 1.6% on Friday's session to hit an intraday high of Rs 2,156.50 on BSE against the last closing value of Rs 2,122.30. Currently, the shares trade 2.6% away from 52-week high of Rs 2198.7.

Mukesh Ambani plans to set up 'family council' to hand over reins of Reliance Industries to 3 children

Reliance Industries share is trading higher than 5, 20, 50, 100 and 200-day moving averages. Market capitalisation of RIL has risen to Rs 13,55,554.86 crore as of today's session.

Stock price of Reliance Industries has jumped 11% in one month and 41% since the beginning of the year.

Ambani, 63, who reportedly has plans to hand over reins of his sprawling empire to his three children by next year-end, wants to set up the council in order to ensure all family members are on board for the conglomerate's future.

The council will address conflicts, if any, arising out of succession plan and ensure a smooth transition.

In another update, Reliance Industries Limited (RIL) is evaluating the possibility of investing in the India operations of banned Chinese video platform TikTok, Bloomberg reported earlier.

The Indian government banned TikTok earlier in June, along with 58 other Chinese apps, citing a threat to national security.

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