Market-leading conglomerate stock of Mukesh Ambani rose by 2 percent after the acquisition of a 21 percent stake in US-based Wavetech Helium for $12 million. This strategic investment is expected to strengthen Ambani’s portfolio in the global tech and energy sectors.
Price Movement
In Friday’s trading session, Reliance Industries Limited‘s share price reached an intra-day high of Rs.1,299.50 per share, representing a 2.2 percent rise from its previous close of Rs.1,270.80 apiece. The share has retreated since then and currently trading at Rs.1,294.95 per share.
Acquisition Details
Billionaire industrialist Mukesh Ambani’s Reliance Industries Ltd (RIL) announced on November 28 that its US subsidiary, Reliance Finance and Investments USA LLC, has acquired a 21 percent stake in Wavetech Helium Inc., a US-based helium gas exploration and production company, for $12 million. The acquisition was formalized through a stock purchase agreement.
Founded on July 2, 2021, Wavetech Helium began its commercial operations in 2024. The company focuses on the acquisition, exploration, and development of properties to extract helium gas from underground reservoirs.
Helium is a critical resource for various industries, including medical, scientific research, aerospace, electronics, and fiber optics. With the rise of artificial intelligence (AI) and data centers, RIL expects a surge in demand for helium, particularly for semiconductor manufacturing.
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Business Segments
Reliance Industries Limited operates across several key segments that solidify its position as a leading conglomerate. It is the largest producer of petrochemicals in India and runs the world’s largest refinery complex in Jamnagar.
Its telecommunications arm, Reliance Jio, provides high-speed internet and digital services, while Reliance Retail is the largest organized retailer in India, offering a wide range of products. The company also has a strong presence in textiles with brands like Vimal and has ventured into digital media and biotechnology
Financials
In the latest financial update, the company reported net sales of Rs.2,31,535 crore for Q2 FY25, marking a decrease of approximately 0.15 percent from Rs.231,886 crore in Q2 FY24. Net profit decreased to Rs.19,323 crore, compared to Rs.19,878 crore in the same period last year.
Company overview
Reliance Industries Limited (RIL) is the largest private sector company in India and a Fortune 500 firm. It operates in hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, as well as renewables including solar and hydrogen. Additionally, RIL is involved in retail and digital services.
Written by – Siddesh S Raskar
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