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RIL-Future Group deal: RIL shares rally over 2.5%; Future Group stocks jump

Shares of RIL had hit an all-time high of Rs 2,198.70 on July 27, 2020.

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Edelweiss Securities says the acquisition of the Future Group by RIL is highly synergistic; however, it shall require significant restructuring.

Swati Verma New Delhi

4 min read Last Updated : Aug 31 2020 | 10:05 AM IST

Shares of Reliance Industries (RIL) rallied as much as 2.6 per cent to Rs 2,172 apiece on the BSE on Monday after the company announced its arm, Reliance Retail Ventures Limited (RRVL), will acquire the entire retail, wholesale, logistics, and warehousing businesses from the Future Group as a going concern basis for a total consideration of Rs 24,713 crore.

At 09:30 AM, the stock was trading over 1 per cent higher at Rs 2,139.20 on the BSE against Friday's close of Rs 2115.60. In comparison, the benchmark S&P BSE Sensex was trading over 1 per cent higher at 39,879.39 levels.

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Topics : RIL Future Group Future Group Kishore Biyani Buzzing stocks Mukesh Ambani Markets

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