RIL soars on the buzz of acquiring Hotel Leelaventure’s business park in Chennai

27 Dec 2012 Evaluate

Reliance Industries is currently trading at Rs. 829.10, up by 1.10 points or 0.13 % from its previous closing of Rs. 828.00 on the BSE.

The scrip opened at Rs. 830.00 and has touched a high and low of Rs. 830.25 and Rs. 824.30 respectively. So far 78476 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 881.00 on 17-Sep-2012 and a 52 week low of Rs. 671.00 on 08-May-2012.

Last one week high and low of the scrip stood at Rs. 841.00 and Rs. 816.15 respectively. The current market cap of the company is Rs. 266609.24 crore.

The promoters holding in the company stood at 45.24% while Institutions and Non-Institutions held 28.55% and 22.78% respectively.

Reliance Industries (RIL) is, reportedly, all set to acquire Hotel Leelaventure’s business park in Chennai to house its headquarters for its much-awaited 4G operations. The two companies are soon expected to ink the deal for Rs 172 crore. The Leela business park has been chosen for housing RIL’s 4G operations, due to its close proximity to the sea, which would help the company in laying down the undersea cables. The Leela business park is part of the 6-acre land that also houses 11-storeyed hotel - the Leela Palace with 326 rooms and suites.

RIL plans to invest $10 billion on rolling out its 4G network across the country, a move that the company has been gearing up for ever since its subsidiary, Infotel Broadband (IBSL), won a license in 2010 to offer such services nationally. IBSL is the only company in the country to have 20 Mhz of pan-India airwaves that it can use for providing 4G services.

Reliance Industries Share Price

2871.00 20.80 (0.73%)
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