Reliance Industries (RIL), leading private sector enterprise with businesses in the energy and materials value chain, witnessed a fall in share price on Wednesday after the company and Shandong Ruyi Science and Technology Group Co., China (Ruyi), have executed definitive agreements for a joint venture in textile. As per the definitive agreements, RIL will transfer its existing textile business into a newly incorporated company, for which RIL will receive cash consideration.
Shares of the company are trading at Rs 935.65, down Rs 3.65, or 0.43% at the Bombay Stock Exchange (BSE) on Wednesday at 11:40 a.m. The scrip has touched an intra-day high of Rs 940.90 and low of Rs 932. The total volume of shares traded at the BSE is 96,406.