Reliance Industries was down 0.27% to Rs 919.25 at 9:24 IST on BSE, with the stock starting the session on a lower note.
Meanwhile, the S&P BSE Sensex was down 34.44 points or 0.1% at 33,976.32.
On the BSE, 11,000 shares were traded on the counter so far as against average daily volumes of 5.17 lakh shares in the past one quarter. The stock had hit a high of Rs 921.30 and a low of Rs 914.40 so far during the day. The stock had hit a record high of Rs 990 on 23 January 2018 and a 52-week low of Rs 511 on 13 February 2017.
The stock had outperformed the market over the past one month till 16 February 2018, sliding 0.19% compared with the Sensex's 2.19% fall. The stock had, however, underperformed the market over the past one quarter, advancing 2.13% as against the Sensex's 2.73% rise. The scrip had outperformed the market over the past one year, surging 73.1% as against the Sensex's 20.17% rise.
The large-cap company has equity capital of Rs 6334.13 crore. Face value per share is Rs 10.
Reliance Industries (RIL) after market hours on Friday, 16 February 2018 said that its wholly owned subsidiary Reliance Industrial Investments and Holdings (RIIHL) proposes to acquire equity shares of The Indian Film Combine (IFC), which is setting up a drive-in theatre and hospitality precinct comprising of a hotel, a retail mall and a club, built on about 12 acres of land in Bandra Kurla Complex (BKC), Mumbai.
RIIHL will be acquiring 65% of current paid-up equity share capital of IFC from the existing shareholders for Rs 1105 crore (20% from Mauritian arm of Xander Group, Inc. based in USA for Rs 340 crore and 45% from entities belonging to the promoter group of RIL for Rs 765 crore). The remaining 35% of IFC continues to be held by the Maker Group. The acquisition is expected to be completed by 31 May 2018.
RIL is engaged in construction and development of a convention centre, a retail mall and office space at BKC, Mumbai. Together with the aforesaid IFC project, RIL will create the city's most attractive retail and entertainment destination which will complement its world-class convention centre. RIL would be able to derive commercial and operational synergies to enhance its shareholder value.
The acquisition from the promoter group entities of RIL is on arms-length basis and at the same valuation at which equity shares of IFC are being purchased from the Xander Group.
Meanwhile, RIL's chairman and managing director Mukesh Ambani was quoted as saying over the weekend that the company and its global partners will set up the country's first integrated industrial area in Maharashtra with an investment of Rs 60000 crore.
On a consolidated basis, RIL's net profit rose 25.5% to Rs 9445 crore on 25.7% growth in net sales to Rs 99810 crore in Q3 December 2017 over Q3 December 2016.
RIL is India's largest private sector company. The company's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
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