Mumbai: In a significant block deal, Reliance Industries Limited (RIL) saw 67 lakh shares change hands on the stock exchanges, with the total value of the transaction estimated at over Rs 890 crore. The trades were executed on December 5, 2024, as part of a large-scale institutional transaction.
The block deal attracted significant interest from institutional investors, reflecting continued confidence in Reliance's market leadership and growth potential. The shares were sold at a price of approximately Rs 1,327 per share, which is in line with the prevailing market price.
Reliance Industries, the diversified conglomerate led by Mukesh Ambani, has been a consistent performer in the stock market, and its shares have witnessed strong demand due to its robust business model across multiple sectors, including energy, telecom, retail, and digital services.
Market experts suggest that the block deal is a result of portfolio rebalancing by institutional investors or major shareholders, but it has not affected the company's market sentiment, with RIL shares continuing to trade at attractive valuations.
The deal also indicates strong investor appetite for Reliance shares, despite broader market conditions, showcasing the continued positive outlook on India's corporate giants.
Reliance Industries has not commented directly on the specifics of the deal, but the transaction highlights the company’s stature in the Indian equity market and its appeal among large institutional investors.