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Reliance Industries reorganises its fuel retail business

Reliance Industries reorganises its fuel retail business

RIL has merged its 361 'company owned-company operated' fuel retail pumps with its organised retail business.

 

Reliance Industries has reorganised its fuel retail business to hive off the fuel retail outlets owned by the company and merge them with its organised retail arm, according to reports.

Report says that this move comes to develop retail offerings at these petrol pumps. 

RIL has merged its 361 'company owned-company operated' fuel retail pumps with its organised retail business.

"It is no longer simply a petrol pump. Today, what you can do with fuel retail outlets by virtue of the synergies make it a more consumer facing business," said V Srikanth, joint chief financial officer at RIL. 

 

Reliance Industries Ltd ended at Rs. 1012.55, up by Rs. 6.1 or 0.61% from its previous closing of Rs. 1006.45 on the BSE.
 
The scrip opened at Rs. 1010 and touched a high and low of Rs. 1020.65 and Rs. 1003.85 respectively. A total of 3556170(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 328340.91 crore.
 
The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 1089.5 on 15-Jan-2016 and a 52 week low of Rs. 819 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 1020.65 and Rs. 985.5 respectively.
 
The promoters holding in the company stood at 45.15 % while Institutions and Non-Institutions held 32.38 % and 19.5 % respectively.
 
The stock traded above its 200 DMA.

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But we can’t depose BDLR….yet. This display of legal psychobabble by BDLR is juvenile.. A 1st year law student could tear it up. Pretty pathetic and incomprehenseable.

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