Reliance Industries' (RIL) promoters have increased their stake in the country's largest private sector company to over 49 per cent as of the December quarter this financial year.
The promoters have purchased 12 crore shares, amounting to over a 4 per cent stake in the company, during the period between September and December 2008, according to the latest shareholding pattern information available on the stock exchange.
For the quarter ended December 31, promoters of RIL hold 77,16,98,164 shares amounting to a 49.03 per cent stake in the company, while in the September quarter they had 65,12,58,164 shares, a 44.80 per cent stake.
The shares of the company reacted positively to this development and surged nearly seven per cent on the bourses.
On the Bombay Stock Exchange the scrip touched an intra-day high of Rs 1,154.40, a jump of 6.79 per cent from its previous closing price, and on the National Stock Exchange the stock touched an intra-day high of Rs 1,154.80, a surge of 7.17 per cent from its previous close.