Reliance Industries jumps after its arm picks up 89% equity stake in Clovia

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

22 Mar 2022 Evaluate

Reliance Industries is currently trading at Rs. 2511.00, up by 43.85 points or 1.78% from its previous closing of Rs. 2467.15 on the BSE.

The scrip opened at Rs. 2463.70 and has touched a high and low of Rs. 2520.50 and Rs. 2454.00 respectively. So far 135666 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2750.00 on 19-Oct-2021 and a 52 week low of Rs. 1877.60 on 22-Apr-2021.

Last one week high and low of the scrip stood at Rs. 2520.50 and Rs. 2376.45 respectively. The current market cap of the company is Rs. 1694543.20 crore.

The promoters holding in the company stood at 50.62%, while Institutions and Non-Institutions held 38.54% and 10.85% respectively.

Reliance Industries’ subsidiary -- Reliance Retail Ventures (RRVL) has acquired 89% equity stake in Purple Panda Fashions, which owns and operates the Clovia business, with an investment of Rs 950 crore through a combination of secondary stake purchase and primary investment. The Founding team and management will own the balance stake in the company. With this acquisition, RRVL will further strengthen its portfolio in the innerwear segment, having already acquired Zivame and Amante brands.

Launched in 2013, Clovia is India’s leading bridge-to-premium D2C brand democratizing aspirational innerwear and loungewear for millennial women. It commands a strong customer following in the intimate wear space and is known for its design led fresh styles and sharply-priced offerings to customers.

Clovia’s offerings include over 3,500 product styles, based on its feedback led design approach and backed by its proprietary ‘Clovia Curve Fit Test’. Clovia has a strong inhouse design process to offer trending designs and innovative styles, while it follows an asset-light outsourced production model.

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.

Reliance Industries Share Price

1304.25 0.45 (0.03%)

03-Jul-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1304.25
Indian Oil Corpn.	141.60
Bharat PetroleumCorp	308.20
HPCL	399.35
MRPL	150.20
View more..

Create stable, long-term investment portfolio with strong, consistent stocks.

Start Research-backed Investing ...Now. Subscribe to Sapphire

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.