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Reliance Industries Limited ( (IN:RELIANCE) ) just unveiled an update.
Reliance Industries Limited has approved the acquisition of a 100% equity stake in Lakadia B Power Transmission Limited from REC Power Development and Consultancy Limited for up to Rs. 8 crore. This acquisition allows Reliance to execute the transmission system project at Lakadia Substation, enhancing its role in developing India’s transmission infrastructure. The acquisition is set to be completed by March 2025 and is not a related party transaction, requiring no governmental or regulatory approval.
More about Reliance Industries Limited
Reliance Industries Limited is a major player in the Indian conglomerate industry, involved in diverse sectors including energy, petrochemicals, textiles, natural resources, retail, and telecommunications. The company focuses on the development of infrastructure and technology-driven solutions.
YTD Price Performance: 2.51%
Average Trading Volume: 676,765
Current Market Cap: 16760.5B INR
For a thorough assessment of RELIANCE stock, go to TipRanks’ Stock Analysis page.