Petroleum Trust Sells RIL shares worth Rs 3465 crores

Mumbai, 11th January 2010: Petroleum Trust sold 330 Lakh equity shares of the Company today. Reliance Industrial Investments and Holdings Limited, a wholly owned subsidiary of Reliance Industries Limited, is the beneficiary of the Trust.

The sale of the said shares was executed in the stock exchanges today.

The Trust will realize approximately Rs.3465 crore, at a price of Rs.1050 per share. The financial impact will be reflected in the consolidated financial statements of the Company.

UBS Securities India Private Limited acted as the sole arranger.

The stock was trading at Rs.1090.30, down by Rs.11.65 or 1.06%. The stock hit an intraday high of Rs.1184.70 and low of Rs.1066.

The total traded quantity was 1707573 compared to 2 week average of 2513982.

Source : Equity Bulls

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