RIL shares hit Rs 2,300; market cap over Rs 14.58 lakh crore
Mumbai, September 10, 2020
Shares of Reliance Industries (RIL) climbed to new highs on Thursday taking its market capitalisation to over Rs 14.58 lakh crore.
RIL shares touched an all-time high of Rs 2,343.90 per share on the BSE.
At 1.26 p.m., its stock price was at Rs 2,298.20, higher by Rs 136.95 or 6.34 per cent from the previous close.
The surge in share prices comes on the back of the announcement of Rs 7,500 crore investment by Silver Lake into Reliance Retail Ventures Ltd, an RIL subsidiary.
On Wednesday, RIL had announced that the investment values RRVL at a pre-money equity value of Rs 4.21 lakh crore. Silver Lake's investment will translate into a 1.75 per cent equity stake in RRVL on a fully diluted basis.