RIIHL Acquires 3.56% Stake, Promotes RIL

25 Aug 2023 CW Team

Reliance Industrial Investments and Holdings Limited (RIIHL) has seamlessly taken over the promoter mantle of Reliance Industries Limited (RIL) by procuring a 3.56 per cent stake in Petroleum Trust, a fellow promoter entity. This transition transpired through an off-market transaction, as per official exchange filings.

Petroleum Trust, integral to the promoter group of the target entity, divested its holdings. This strategic distribution designates RIIHL as a key member within the promoter group. Notably, this evolution does not impact the cumulative shareholding percentage of the promoter and its consortium in RIL, maintaining consistency before and after RIIHL's acquisition.

Currently valued at Rs 1.71 trillion, RIL's performance over the past year yielded a 4.8 per cent return to investors, contrasting with the Nifty 50 Index Is 10.6 per cent gains.

In parallel, Jio Financial Services, a subsidiary of the RIL conglomerate, witnessed its share price locked at a 5 per cent lower circuit for the third consecutive session. This followed a lukewarm listing on Monday.

Notably, on August 22, the state-owned Life Insurance Corporation of India (LIC) procured a 6.66per cent stake in Jio Financial Services Ltd. (JFSL). This acquisition, facilitated through a non-banking financial entity demerger, equated to 4.68per cent of Reliance Industries' pre-demerged value, as per a company announcement on July 19. As of June 30, LIC's Reliance Industries holdings amounted to 6.49 per cent.

In midday trade, RIL shares experienced a modest uptick, reaching Rs 2,529 on the NSE.

Infrastructure Urban

04 Dec 2025

ISRO’s IMAT Success Boosts Readiness for Maiden Gaganyaan Mission

Union Minister of State for Science and Technology Dr Jitendra Singh informed Parliament that ISRO has achieved a key milestone in its preparations for India’s first human space mission with the successful completion of the Integrated Main Parachute Airdrop Test (IMAT). He said in the Lok Sabha that the test forms a central part of the qualification campaign for the Crew Module’s parachute-based deceleration system, one of the most vital elements in human-rating the mission.According to Dr. Jitendra Singh, the IMAT recreated one of the most demanding descent conditions by intentionally del..

Gyanesh Kumar Takes Charge as Chair of International IDEA Council

Chief Election Commissioner of India Gyanesh Kumar has assumed the Chairship of the Council of Member States of the International Institute for Democracy and Electoral Assistance for 2026. The ceremony in Stockholm was also attended by India’s Ambassador to Sweden, Anurag Bhushan. India, a founding member of International IDEA, has long contributed to the organisation’s governance and global democratic dialogue, and the new Chairship signals broad recognition of the Election Commission of India as a trusted and innovative election management institution.During his visit, Kumar held discuss..

Coal Mines Boost Local Growth and Support India’s Energy Self-reliance

The Magadh and Amrapali coal mines in Jharkhand are playing a pivotal role in strengthening India’s energy security, contributing nearly half of Central Coalfields Limited’s total coal production in 2024–25. Both mines support the broader goal of ensuring steady coal availability for the power sector under the vision of Aatmanirbhar Bharat. Magadh has estimated mineable reserves of 854.91 million tonnes, while Amrapali holds 456.34 million tonne. For FY 2025–26, the two are expected to generate net sales revenues of Rs 28.12 billion and Rs 23.67 billion respectively. Local development ..