Stock likely to be in focus tomorrow as Qatar Investment Authority to invest Rs 8,278 crore in this energy company!
The company's quarterly and annual reports have consistently shown impressive figures, demonstrating its profitable performance for over a decade.
Reliance Retail Ventures Limited (RRVL) announced today that Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest Rs 8,278 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore.
RRVL, through its subsidiaries and associates, operates India's largest, fastest-growing, and most profitable retail business serving 267 million loyal customers with an integrated omnichannel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion and lifestyle, and pharma consumption baskets.
QIA’s investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully diluted basis. The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of Rs 47,265 crore was done at a pre-money equity value of Rs 4.21 lakh crore.
Today, shares of Reliance Industries Ltd ended the trading session in the green, up 0.16 per cent to Rs 2,523.15 per share with an intraday high of Rs 2,542.40 and an intraday low of Rs 2,518.05.
Reliance Industries Limited is a Fortune 500 company and the largest private sector corporation in India. The company is a constituent of the BSE Sensex Index, which is a stock market index that tracks the performance of 30 of the largest and most liquid stocks listed on BSE with a market capitalization of over Rs 17 lakh crore, excluding the market capitalization of Jio Financial Services, which is over Rs 1.44 lakh crore.
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The company's quarterly and annual reports have consistently shown impressive figures, demonstrating its profitable performance for over a decade. The stock gave multibagger returns of 120 per cent in 5 years and over 580 per cent in 1 decade. Investors should keep an eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.