Reliance Industries gained 1.4% to Rs 2035.65 after the conglomerate on Monday announced the demerger of its oil-to-chemicals (O2C) business into a wholly-owned subsidiary.
RIL said it has initiated the process of carving-out O2C business into an independent subsidiary. The company said the reorganization would enable a focused pursuit of opportunities across the O2C value chain, improved efficiencies through a self-sustaining capital structure. Reorganisation of O2C business facilitates participation by strategic investors and marquee sector focused investors, it added.