RIL shares rise 2% after its arm acquires stake in Strand Life Sciences

Shares of Reliance Industries (RIL) rose by 2% to hit a fresh record high of ₹2,441.2 during early trade on Monday. This comes after its subsidiary Reliance Strategic Business Ventures (RSBVL) acquired 2.28 crore shares of Strand Life Sciences for ₹393 crore. A further investment of up to ₹160 crore is expected to be completed by March 2023, RIL said.