Reliance Industries gains 3%, hits new peak; m-cap nears Rs 18 trillion
Shares of Reliance Industries (RIL) hit a new high of Rs 2,658, surging 3 per cent on the BSE in Friday’s intra-day trade. The stock has gained 4 per cent in the past two trading days after the company’s retail arm, Reliance Retail, announced to launch 7-Eleven stores in India.
On Thursday’s Reliance Retail Ventures Limited (RRVL), through its wholly owned subsidiary, 7-India Convenience Retail Limited, entered into a master franchise agreement with 7-Eleven, Inc. for the launch of 7-Eleven convenience stores in India.
“The first 7-Eleven store is set to open on Saturday, October 9 in Andheri East, Mumbai. This will be followed by a rapid rollout in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with,” Reliance Retail said in a press release.
