Business Today
Loading...

RIL share rises 3% after KKR buys stake in retail business for Rs 5,550 crore

Share price of Reliance Industries gained 2.96% to Rs 2,276 against previous close of Rs 2,211 on BSE

twitter-logoBusinessToday.In | September 23, 2020 | Updated 10:31 IST
RIL share rises 3% after KKR buys stake in retail business for Rs 5,550 crore
RIL stock has gained after 2 days of consecutive fall

Reliance Industries share rose 3% in early trade today on reports that private equity player KKR would invest Rs 5,550 crore into Reliance Retail Ventures (RRVL) for a 1.28 percent stake. The investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore, RIL said.

Share price of Reliance Industries gained 2.96% to Rs 2,276 against previous close of Rs 2,211 on BSE. The large cap stock has gained after 2 days of consecutive fall. The stock opened with a gain of 2.89% at Rs 2275 today.

Market cap of the firm stood at Rs 15.21 lakh crore. The large cap stock hit a fresh 52-week low of Rs 867 on March 23, 2020. Since then, the stock has gained 173.12% on BSE. Total 2.54 lakh shares changed hands on BSE amounting to turnover of Rs 57.46 crore. RIL stock price has lost 2.96% in one week.

The share has gained 8.33% in one month. The stock has gained 48.94% since the beginning of this year and risen 82.07% during last one year.

RIL stock trades higher than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages. KKR's investment will translate into a 1.28 per cent equity stake in RRVL on a fully diluted basis.

Mukesh Ambani's Reliance Retail sells 1.28% stake to KKR for Rs 5,550 crore

The investment firm plans to make investment from its Asia private equity funds, an RIL statement said. On September 16, the stock became the first Indian firm to hit market cap of Rs 16 lakh crore in early trade. The stock achieved the feat after it hit all-time high of Rs 2,368 in an otherwise flat market.

Share price of RIL gained 2.2% to Rs 2,368 against previous close of Rs 2,317 on BSE. That was the first session that market cap of RIL crossed Rs 16 lakh crore making it the most valuable company on Indian bourses.

Stocks in news: RIL, HDFC Bank, SBI, Future Enterprises, Indian Oil

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close