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Reliance Industries jumps on introducing O2C biz demerger ahead of Aramco deal

Reliance Industries jumps on introducing O2C biz demerger ahead of Aramco deal

Reliance Industries is currently trading at Rs. 2036.55, up by 29.15 points or 1.45% from its previous closing of Rs. 2007.40 on the BSE.

The scrip opened at Rs. 2028.00 and has touched a high and low of Rs. 2053.10 and Rs. 2013.80 respectively. So far 280272 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2368.80 on 16-Sep-2020 and a 52 week low of Rs. 867.45 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 2107.70 and Rs. 1995.10 respectively. The current market cap of the company is Rs. 1381118.50 crore.

The promoters holding in the company stood at 50.54%, while Institutions and Non-Institutions held 38.28% and 11.19% respectively.

Reliance Industries (RIL) has introduced contours of its demerger of its O2C (oil-to-chemicals) enterprise right into a wholly-owned subsidiary, in an effort to appeal to international buyers like Saudi Aramco and sought shareholder and creditor approval. O2C reorganization creates an independent, global scale growth engine for RIL, with strong cash flow generation potential. The company will further accelerate its New Energy & New Materials business towards its vision of clean and green energy development.

Reliance Industries 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.