new Delhi. On Tuesday, the Abu Dhabi Investment Authority announced an investment of Rs 5512 crore for a stake of more than 1 per cent in Reliance Retail. After this, Reliance shares are seeing a gain of over 3.50 percent on Wednesday. The company earned over 55 thousand crore rupees during the trading session. Also, the company’s market cap has been more than Rs 15.61 lakh crore. While on Friday, the company’s market cap was below Rs 15 lakh crore. According to experts, Reliance Industries may sell a 15% stake in Reliance Retail. So far, the company has sold up to 8 per cent stake in retail. Due to which the company has received foreign investment of more than Rs 37700 crores.
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Reliable stock market due to Reliance
When the market opened this morning, we had to face the downfall. The reason for this was the fall of foreign markets. Foreign markets fell because the US economic package has been postponed to the US presidential election. Because of which the American market has gone awry. Due to which the Asian markets have also fallen, but after a while, Reliance shares saw tremendous growth. Which led to a boom in the domestic stock market. The domestic stock market is currently trading at 39,939 points. According to experts, the market can touch the level of 40 thousand before closing. The Nifty 50 is trading at 11728 points.
Reliance shares rose more than 3.50
Today, Reliance shares are seeing a rise of more than 3.50 per cent. Which had gone up by 4 per cent during the trading session to a day’s high of Rs 2309.40. Currently, the company’s stock is trading at Rs 2285, up 3.60 per cent. While the stock of the company started with Rs 2233.25 and went up to the day’s low with Rs 2221.
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55 thousand crore rupees increase in the company’s market cap
At the same time, if you talk about the market cap of Reliance, today the market cap reached the mercury of Rs 15 lakh crore due to the increase in the shares of the company. When the market closed on Friday, the company’s market cap was Rs 1494772.64 crore. Today, when the company’s share price reached Rs 2309.40, the company’s market cap rose to Rs 1561368.26 crore. That is, during this time the market cap of the company will increase by Rs 54917.33 crore. According to experts, Reliance shares may see further rise in the coming days.
ADIA invested 5512 crores
India’s largest retailer has invested Rs 5,512.5 crore at a pre-money equity value of Rs 4.285 lakh crore for a 1.2 per cent stake in Reliance Retail Ventures Limited by Abu Dhabi Investment Authority. According to a statement by RIL, RRVL has now raised Rs 37,710 crore from major global investors such as Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA.
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Retail share can be sold up to 15%
On the other hand, Mukesh Ambani can sell Reliance Retail’s stake up to 15%. Which is only 50% compared to the disinvestment of Jio platform. Jio Platform’s Mukesh Ambani had sold a stake of around 32 per cent. According to experts, at that time there was a huge debt burden on Reliance. The disinvestment of Jio was more needed to take off. Now that is not the case. At present, there is no shortage of rupees either by Reliance. Reliance will spend the money to buy new companies by selling retail equity.
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