RIL sells treasury shares worth Rs 25.75bn on Years First Day
Shares of RIL slipped by 2% to Rs1069, the stock had hit an intra-day low of Rs1021 in early trades.
Reliance Industries shares hogged the limelight on the first day of the year after the company sold treasury shares (A treasury stock or reacquired stock is stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market (“open market” including insiders’ holdings) worth Rs 25.75 bn.
About 25.91 mn equity shares or 0.78% of the company changed hands in multiple block deals on the BSE and NSE at an average price of Rs1035 per share. Reliance Industries last year had raised US $658mn through treasury sale.
Shares of Reliance Industries ended lower by 1.2% to end at Rs 1075, the stock had hit an intra-day low of Rs 1022 in the early trades.
Tags: expert views on RIL, ril share, ril treasury shares, treasury shares of RIL, what are treasury shares
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