Share price of Reliance Industries added more than 1 percent in the early trade on Friday as company formed a partnership with SBI to offer digital banking and financial services to their customers.
Jio and SBI are entering into a digital partnership aimed to increase SBI��s digital customer base multi-fold, also the customers will benefit from Jio Prime, a consumer engagement and commerce platform from Reliance, company said in release.
Reliance Brands, a subsidiary of the company, has purchased an additional 2.36 percent equity stake in Genesis Colors (GCL) for about Rs 9.89 crore, taking its total stake in GCL to 11.65 percent.
No regulatory approvals were required for the said acquisition of shares.
The investment does not fall within related party transaction and none of RIL's promoter/ promoter group/ group companies have interest in GCL.
At 09:17 hrs Reliance Industries was quoting at Rs 1,181.20, up Rs 12.85, or 1.10 percent on the BSE.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Posted by Rakesh Patil First Published on Aug 3, 2018 09:35 am
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