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Reliance Industries shares bounce back after 4-day fall; jump 12 pc

Business Finance

Press Trust of India  |  New Delhi 

Shares of Reliance Industries bounced back on Friday and zoomed 12 per cent, a day after Mukesh Ambani, his wife, and three children marginally raised their personal shareholding in the company.

The scrip jumped 11.24 per cent to close at Rs 1,020.20 on the BSE. During the trade, it advanced 12.71 per cent to Rs 1,033.70.

On the NSE, it rallied 12 per cent to close at Rs 1,028.

Led by the gain in its share price, the company's market valuation also jumped Rs 65,357.85 crore to Rs 6,46,732.07 crore on the BSE.

Reliance Industries Ltd (RIL) shares had dropped 17.14 per cent till Thursday in fourth consecutive session of fall. In terms of traded volume on Thursday, 17.79 lakh shares were traded on the BSE and about 2.89 crore shares on the NSE during the day.

RIL was the biggest contributor in the overall bullish market trend on Thursday, where the BSE benchmark index returned to its winning ways by advancing 1,627.73 points or 5.75 per cent to close at 29,915.96 after four days of massive decline.

Billionaire Mukesh Ambani, his wife, and three children have marginally raised their personal shareholding in RIL by acquiring some shares of another promoter group entity.

Overall, the promoter group shareholding in the oil-to-telecom conglomerate remains unchanged at 47.45 per cent, the company said in a regulatory filing.

Mukesh Ambani, who personally held 72.31 lakh shares or 0.11 per cent of RIL, raised his holding to 75 lakh or 0.12 per cent. His wife, Nita too raised shareholding to 75 lakh from 67.96 lakh. Twins Akash and Isha who held about 67.2 lakh shares, too have raised their holding to 75 lakh.

Youngest of the three siblings, Anant, who had only 2 lakh shares in RIL, will raise his holding to 75 lakh.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 20 2020. 16:46 IST