Reliance Industries Ltd invests in Reliance New Solar Energy Ltd

Reliance Industries Ltd has invested Rs. 1,00,000 in cash in 10,000 equity shares of Rs. 10 each of 'Reliance New Solar Energy Limited' (RNSEL), a newly incorporated wholly owned subsidiary. RNSEL is incorporated to undertake activities relating to solar energy. RNSEL is yet to commence its business operations.

The investment in RNSEL does not fall within related party transaction and the promoter / promoter group / group companies do not have any interest in RNSEL. No governmental or regulatory approvals were required for the said investment.

Shares of Reliance Industries Ltd was last trading in BSE at Rs. 2071.5 as compared to the previous close of Rs. 2035.4. The total number of shares traded during the day was 406792 in over 18388 trades.

The stock hit an intraday high of Rs. 2079 and intraday low of 2041. The net turnover during the day was Rs. 840706318.

Source : Equity Bulls

Keywords