
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.
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.
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.
Most of the brokerages have recommended “Buy” rating on RIL shares post Q3, projecting the stock to rise up to 31% from the current market price.