Reliance Industries Ltd shares jump 4 pc

The market-heavyweight stock closed at Rs 2,029, a gain of 3.78 per cent on BSE

New Delhi: Shares of Reliance Industries Ltd closed with nearly 4 per cent gain on Friday after the company’s retail arm raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia.

The market-heavyweight stock closed at Rs 2,029, a gain of 3.78 per cent on BSE. During the day, it jumped 4.34 per cent to Rs 2,040. On NSE, it rose by 3.58 per cent to settle at Rs 2,025.15.

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Reliance Industries was the top gainer in the Sensex pack. The company’s market valuation zoomed Rs 49,972.43 crore to Rs 13,72,017.43 crore on BSE. In volume terms, 18.87 lakh shares were traded on BSE and over 3 crore on NSE.

Reliance Industries Ltd’s retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore.
PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said

in a statement. “This investment will further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment,” the statement said.