Reliance Industries promoter entity sells 56 lakh shares for Rs. 440 crore
Mumbai: Pavana Enterprises LLP, a promoter group firm of Reliance Industries Ltd (RIL), offloaded on Wednesday 56 lakh shares of the energy giant for nearly Rs. 440 crore to another promoter entity.
The shares were purchased by Nagothane Agrofarms, a Farm Enterprises unit, through open market transactions.
According to information available with the stock exchanges, Pavana Enterprises sold 56 lakh RIL shares.
The shares were sold on an average price of Rs. 785.05 valuing the transaction to Rs. 439.62 crore, the data showed.
RBI Chief Raghuram Rajan stated that more economic data is needed to be confident that economic growth is picking up, although he added that the benefits to exports from the Rupee's fall is yet to kick in.
Date 11-12-13, Duration 2:19, Views 32