Reliance Industries Limited (RIL) has achieved a historic milestone by becoming the first Indian company to achieve a market capitalization of over ₹20 lakh crore. As of 11:22 am, the company’s shares were trading at ₹2,948.00, also reaching a 52-week high of ₹2958.
This strategic acquisition underscores Reliance’s commitment to expanding its consumer products portfolio and further consolidating its position in the market. With its soaring market capitalization and strategic business moves, Reliance Industries continues to set new benchmarks in the Indian corporate landscape.
Also: Reliance Consumer Products Ltd (RCPL), a subsidiary of Reliance Retail Ventures Ltd (RRVL), has struck a deal to acquire the brands of Ravalgaon Sugar confectionery. The acquisition, valued at ₹27 crore, includes popular brands such as Coffee Break and Paan Pasand.
According to a regulatory filing, Ravalgaon Sugar Farm, the parent company of these iconic brands, has approved the sale, transfer, and assignment of trademarks, recipes, and all intellectual property rights associated with its sugar boiled confectionery business to RCPL. Promoters of Ravalgaon Sugar Farm, including Harshavardhan Bharat Doshi, Nihal Harshavardhan Doshi, and Lalan Ajay Kapadi, have also executed a deed of assignment as part of the transaction.
However, it’s important to note that the deal does not involve the sale of all assets and liabilities of Ravalgaon Sugar Farm. The company will retain ownership of other assets such as property, land, plant, building, equipment, and machinery after the completion of the transaction.