Mukesh Ambani ups stake in Reliance Industries by 2.71%; stock falls 1.12%

Taking advantage of the low share prices, the promoter entities owned by Mukesh Ambani, chairman of Reliance Industries

(RIL), raised their stake by 2.71 per cent to 48.87 per cent in RIL. The market value of RIL on Tuesday was Rs 7.58 trillion. The additional stake was acquired by Reliance Services and Holdings (controlled by Petroleum Trust, part of the promoter group). RIL shares closed at Rs 1,197 apiece, down 1.12 per cent.