RIL share price rises as Reliance Retail takes controlling stake in Just Dial

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Reliance Retail reported a consolidated turnover of Rs 157,629 crore (USD 21.6 billion) and net profit of Rs 5,481 crore (USD 750 million) for the year ended March 31, 2021.

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Reliance Industries (RIL) share price rose in early trade on September 3 after the company’s subsidiary Reliance Retail Ventures (RRVL) acquired controlling stake in Just Dial.

“On September 1, 2021, Just Dial, pursuant to the preferential issue, allotted 2.12 crore equity shares of Rs 10 each at a price of Rs 1022.25 per equity share (including a premium of Rs 1012.25 per equity share) representing 25.35 percent of the post-preferential issue paid-up share capital of Just Dial to RRVL,” Reliance Retail said in its press release.

Earlier on July 20, 2021, RRVL acquired 1.31 crore equity shares of Rs 10 each of Just Dial at a price of Rs 1,020 per equity share from Mr. VSS Mani on the floor of the stock exchange through the block window facility.

This acquisition represents 15.63 percent of the post-preferential issue paid-up equity share capital of Just Dial.

RRVL reported a consolidated turnover of Rs 157,629 crore (USD 21.6 billion) and net profit of Rs 5,481 crore (USD 750 million) for the year ended March 31, 2021.

At 09:17 hrs Reliance Industries was quoting at Rs 2,319.40, up Rs 25.75, or 1.12 percent on the BSE.

The share touched a 52-week high of Rs 2,368.80 and a 52-week low of Rs 1,830.00 on 16 September, 2020 and 29 January, 2021, respectively.

Currently, it is trading 2.09 percent below its 52-week high and 26.74 percent above its 52-week low.

The Just Dial share was quoting at Rs 1,004.50, up Rs 23.40, or 2.39 percent on the BSE.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.