
Reliance Industries shares rise over 2%; here’s why
Reliance Consumer Products has completed the acquisition of 51% stake in Lotus Chocolate for ₹74 crore.
Reliance Consumer Products has completed the acquisition of 51% stake in Lotus Chocolate for ₹74 crore.
Levy on petrol, diesel, and aviation turbine fuel has been kept unchanged at zero
As part of demerger, Reliance shareholders will be issued one equity share of Jio Financial for every share they hold in the company.
The Mukesh Ambani-led conglomerate posted a profit of ₹19,299 crore for the fourth quarter.
On the sequential basis, Jio’s profit grew by 1.6% in the March quarter, while revenue rose 1.7%.
Reliance is expected to report single-digit growth in its top and bottom lines, while consolidated EBITDA is seen growing double-digit year-on-year in Q4 FY23.
Reliance Industries net profit growth is expected to be 4-7% QoQ inQ4, according to research firms
Reliance Industries has made an investment of ₹10,839 crore, whereas Bodhi Tree Systems invested ₹4,306 crore in the joint venture.
RIL will hold a meeting of its creditors and shareholders on May 2, 2023, to consider demerger of its financial services business into Reliance Strategic Investments.
The scheme is expected to bring in an investment of ₹93,041 crore and generate over one lakh direct and indirect jobs.