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Reliance Buys 17.4 Lakk Shares Of Shoppers Stop Worth Rs. 51 Crores

The Reliance Anil Ambani Group firms paid an amount that is over Rs 51 crore through open market transaction for buying 17.4 lakh shares in Shoppers Stop which is a retail chain popular in India. Also, Smallcap World Fund is selling its equities in the company offering a deal that is worth Rs 58.6 crore.

Reliance Anil Ambani Logo

Reliance Anil Ambani Group

There are definitely a lot of reasons why companies are selling their shares. Whatever these reasons are, surely, it is for the common good of their company. They will definitely not make any decision that will put their company in a loss. For the March quarter, the share of Reliance Capital Trustee is now worth 24.91 lakh or that is only 3.02 per cent stake in the retail company.

Shoppers Stop Logo

Shoppers Stop

Smallcap World Fund is at 23.40 lakh shares which is about 2.83 per cent holding in the Shoppers Stop. The management of the retail chain is still hoping that they would do well in this recent fiscal year.

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