1. Reliance Industries Limited stock up 2 per cent; mcap surges by Rs 8,223 crore

Reliance Industries Limited stock up 2 per cent; mcap surges by Rs 8,223 crore

Shares of RIL rose 2 per cent, adding Rs 8,223 crore to the company's market valuation and ending at nearly 9-year high level today - a day after promoters decided to re-jig shareholding through inter se transfer.

By: | New Delhi | Published: March 3, 2017 6:53 PM
Padma Vibhushan awards, reliance industries, reliance products, anil dhirubhai padma vibhushan, dhirubhai ambani padma vibhushan award Shares of RIL rose 2 per cent, adding Rs 8,223 crore to the company’s market valuation and ending at nearly 9-year high level today – a day after promoters decided to re-jig shareholding through inter se transfer. (Reuters)

Shares of RIL rose 2 per cent, adding Rs 8,223 crore to the company’s market valuation and ending at nearly 9-year high level today – a day after promoters decided to re-jig shareholding through inter se transfer. The stock gained 2.04 per cent on BSE to end at Rs 1,258.45, the highest closing in nearly 9-years. During the day, it jumped 4.42 per cent to Rs 1,287.80. On NSE, it rose 1.76 per cent to close at Rs 1,258.55. The company’s market valuation went up by Rs 8,222.8 crore to Rs 4,08,238.80 crore. On the volume front, 11.94 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

As many as 15 promoter group entities of Reliance Industries Ltd will transfer their 119 crore shares to eight other promoter group entities. The proposed inter-se transfers will not result in any change in promoter group shareholding of 45.24 per cent in RIL. A stock exchange filing said that 15 promoter group entities will transfer 118.99 crore shares to eight other promoter group entities at Rs 1,100.78 per share. The shares being transfered constitute 36.7 per cent of the share capital or 38.74 per cent of voting rights. Presently, there are 63 promoter group entities and individuals, including Chairman Mukesh Ambani, wife Nita Ambani and children Akash, Anant and Isha, holding 146.39 crore shares or 45.24 per cent of RIL.

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“The promoter group entities of RIL propose to re-structure their shareholding in RIL by inter-se transfer of shares among the promoter group entities and have made the necessary disclosures in this regard today. “The proposed inter-se transfers will not result in any change in promoter group shareholding in RIL,” a spokesperson of the promoter group said yesterday.

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