GulfHindi English Desk: Reliance Industries, owned by Mukesh Ambani, saw a surge in its shares on Monday. Reliance shares jumped 4.50% to reach Rs 2755, crossing its all-time high. The market capitalization of the company also crossed Rs 18.50 lakh crore, making it the largest company in the country.
In other news, Reliance Industries has decided to separate its financial services venture and list it as Reliance Strategic Investments Limited (RSIL). The announcement was made on Saturday, with a record date set for July 1 and shares of the new company to be allocated on July 20. Each Reliance shareholder will receive one share of the new company for every share they hold.
Furthermore, Reliance Industries has added Isha Ambani and Rajiv Mehrotra to the board of directors of the new financial services company, JFSL. Isha Ambani has been appointed as a non-executive director, while Anshuman Thakur, the company’s executive officer, has also been appointed as a non-executive director. Rajiv Mehrotra, a former bureaucrat, has been appointed as an independent director for a period of five years.
In summary, Reliance Industries’ shares reached a new high, its financial services venture is being separated, and new directors have been appointed to the board.
en.gulfhindi.com News Summary
👉Reliance Industries shares have surged 4.50% on Monday, reaching a new all-time high of 2755 rupees.
👉The market capitalization of Reliance Industries has crossed 18.50 lakh crore rupees, making it the largest company in the country.
👉Reliance Industries has decided to separate its financial services venture into a new company called Reliance Strategic Investments Limited (RSIL) and list it as JFSL.
👉The record date for the separation has been set for July 1st, and the shares of the new company will be allotted on July 20th.
👉Each Reliance shareholder will receive one share of the new company for every share held in the original company.
👉Isha Ambani and Rajeev Maheshwari have been included in the board of directors of JFSL, with Isha Ambani appointed as a non-executive director and Anshuman Thakur as a non-executive director.
👉Former bureaucrat Rajeev Maheshwari has been appointed as an independent director of RSIL for a period of five years.
👉Important events and their outcomes:
👉Monday: Surge in Reliance shares, crossing 2755 rupees.
👉Market capitalization reaches 18.50 lakh crore rupees, becoming the country’s largest company.
👉Decision to separate Reliance Strategic Investments (RSIL) and list it as JFSL.
👉Related post: None mentioned.
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