Reliance Industries, Future Group stocks rally on strong demand

Shares of Reliance Industries Ltd (RIL) closed nearly 3 per cent higher on Monday after the Competition Commission approved the company’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group.

Future Group stocks were also in heavy demand, rising up to 10 per cent.

RIL shares rose 2.72 per cent to close at Rs 1,950.80 on the BSE. During the day, it gained 3.72 per cent to Rs 1,970.

On the NSE, it jumped 2.93 per cent to close at Rs 1,955.20.

The company’s market valuation rose by Rs 34,892.12 crore to Rs 13,19,138.30 crore on the BSE.

In terms of volume, 5.99 lakh shares were traded on the BSE, while over 2 crore shares were traded on the NSE during the day.