Global Markets
Home›Global Markets›Asia›Reliance promoters lift stake to 50.5% as mutual funds…
Reliance promoters lift stake to 50.5% as mutual funds add shares
Reliance Industries promoters raised ownership to 50.5% at the end of the June quarter, while mutual funds increased their combined stake to 10.1% from 9.8% in March.
Promoters of Reliance Industries increased their stake during the June quarter, pushing their combined promoter and promoter group holding to 50.5% from 50.0% at the end of the March quarter, according to BSE shareholding data cited by LiveMint Markets. The rise followed three straight quarters at 50% and took promoter ownership to its highest level since September 2019.
LiveMint Markets also reported that mutual funds continued to add exposure to the stock. Their combined holding rose to 10.11% from 9.78% at the end of the March quarter, a 0.33 percentage point increase, with major domestic institutional investors including SBI Mutual Fund and ICICI Prudential Mutual Fund.
The story said foreign portfolio investors held 17.2% of Reliance Industries at the end of the June quarter, while public shareholders accounted for 11.1%. It noted the company was on track for its worst annual performance since 2011, even as analysts expected earnings momentum.
Brokerage Equirus Securities projects Reliance Industries' consolidated net sales to rise 35% year on year to around ₹3.28 lakh crore, alongside an estimated 14.5% YoY increase in EBITDA to ₹49,100 crore and a 13% YoY gain in consolidated net profit to ₹24,593 crore, LiveMint Markets reported. Systematix Institutional Equities projected consolidated net sales growth of 27% YoY to around ₹3.09 lakh crore, with EBITDA projected to increase 9.9% YoY.