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Reliance Industries gets RBI’s nod for amalgamation of subsidiaries

05 Jan 2019 Evaluate

Reliance Industries has received approval from Reserve Bank of India for cross-border amalgamation of Reliance Holding USA Inc, a wholly owned step-down subsidiary of the company with Reliance Energy Generation and Distribution (REGDL), a wholly owned subsidiary of the company, and subsequent amalgamation of REGDL with the company. The board of directors of the company will consider the same in a meeting.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Peers
Company Name CMP
Reliance Industries 1177.30
Indian Oil Corpn. 126.05
Bharat PetroleumCorp 286.70
HPCL 328.20
MRPL 174.00
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