Reliance Industrial Investments buys 3.56% in RIL from Petroleum Trust; becomes promoter
market capitalization of ₹1.71 trillion. Over the past one year, RIL has given a 4.8% return to investors, while Nifty 50 Index gained 10.6%.
Meanwhile, group company Jio Financial Services share price was locked at 5% lower circuit for the third consecutive session on Wednesday after a tepid listing on Monday. On 22 August, Life Insurance Corporation of India (LIC), the state-run insurance behemoth acquired 6.66% shareholding in Jio Financial Services Ltd.
(JFSL). This acquisition, facilitated through the demerger of a non-banking financial entity, equated to 4.68% of the pre-demerged value of Reliance Industries, according to a company announcement on July 19.
As of 30 June 30, LIC's holdings in Reliance Industries amounted to 6.49%. In midday trade, RIL shares saw a slight uptick at ₹2,529 on the NSE.
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