Reliance Industries Stock Hits Record High as Silver Lake Picks Up 1.75% Stake in Reliance Retail, RIL up 2.6%
Reliance Industries touched a record high on Thursday. The stock was trading at Rs 2218, up 2.66 percent at 10:40 am. On Wednesday, Reliance Industries announced that Silver Lake Partners picked up 1.75 per cent stake Reliance Retail Ventures (RRVL) for Rs 7,500 crore.
Mumbai, September 10: Reliance Industries touched a record high on Thursday. The stock was trading at Rs 2218, up 2.66 percent at 10:40 am. On Wednesday, Reliance Industries announced that Silver Lake Partners picked up 1.75 per cent stake Reliance Retail Ventures (RRVL) for Rs 7,500 crore.
It marked the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year. Reliance Industries Reportedly in Advanced Talks With KKR For Stake Sale, After Silver Lake Picks Up 1.75% Stake in Reliance Retail.
RIL shares touched record-high on Thursday:
#CNBCTV18Market | #Reliance Industries hits record high, crosses earlier level of Rs 2,198.80/Sh hit on July 27 pic.twitter.com/ToB7xRLdZs
— CNBC-TV18 (@CNBCTV18Live) September 10, 2020
There was also news which said that KKR & Co. is in advanced talks to invest at least $1 billion in the retail business of Reliance Industries, according to a Bloomberg report. This could be another big investment in the unit following Silver Lake Partners’ deal.
(The above story first appeared on LatestLY on Sep 10, 2020 11:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
