Reliance Industries shares surge 1.5% following media merger deal with Walt Disney

In early trade, the shares of Reliance Industries Limited (RIL) experienced a notable increase of 1.5% after the conglomerate signed a binding agreement with Walt Disney for the merger of their media operations in India.

As of 10:23 am, Reliance shares were trading 1.16% higher at Rs 2,942.80 on the Bombay Stock Exchange (BSE), making it the top gainer on the stock exchanges. This positive movement comes as a welcome development for RIL’s stock, which had witnessed momentum loss over the past five trading sessions due to cautious sentiments and profit booking.