Reliance share price jumps 2% on THIS acquisition buzz. More upside possible?
Reliance share price: Shares of oil-to-telecom-to-retail conglomerate Reliance Industries jumped over 2 per cent in intraday trade on BSE on Friday, November 29, a day after the company announced its wholly-owned subsidiary acquired a 21 per cent stake in the US-based Wavetech Helium, Inc. for $12 million. According to the company, the acquisition is part of its strategy to expand its exploration and production business in low-carbon solutions.
The stock opened at ₹1,280 against its previous close of ₹1,271.35 and rose 2.2 per cent to the level of ₹1,299.30 on the BSE. Eventually, the stock closed 1.66 per cent higher at ₹1,292.45.
“Reliance Finance and Investments USA LLC, a step-down wholly owned subsidiary of the company,…
