Thursday , December 2 2021

Reliance Industries climbs as its arm to acquire franchise in ECB’s UAE T20 League

Reliance Industries is currently trading at Rs. 2383.95, up by 33.05 points or 1.41% from its previous closing of Rs. 2350.90 on the BSE.

Reliance Industries

The scrip opened at Rs. 2375.50 and has touched a high and low of Rs. 2389.80 and Rs. 2358.00 respectively. So far 44296 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2750.00 on 19-Oct-2021 and a 52 week low of Rs. 1830.00 on 29-Jan-2021.

Last one week high and low of the scrip stood at Rs 2446.25 and Rs. 2309.40 respectively. The current market cap of the company is Rs. 1590611.89 crore.

The promoters holding in the company stood at 50.61%, while Institutions and Non-Institutions held 38.79% and 10.60% respectively.

Reliance Industries through its subsidiary — Reliance Strategic Business Ventures (RSBVL) is all set to acquire the rights to own and operate a new franchise cricket team in the Emirates Cricket Board’s (ECB’s) upcoming UAE T20 League. The move is the first major overseas expansion of Reliance Industries’ cricket operations in the global franchise-based cricket leagues.

The company owns Mumbai Indians and is one of the eight founding members of the Indian Premier League (IPL). The company’s cricket business will now include these two cricket clubs in addition to its other cricket related initiatives like sponsorship, consultancy, broadcast and talent management.

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.

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