Sensex gains over 300 points, RIL at record high

Mumbai, Sep 10 (IANS) The key Indian equity indices traded on a positive note on Thursday morning with the BSE Sensex gaining over 300 points.

Around 10.25 a.m., Sensex was trading at 38,522.73, higher by 328.81, or 0.86 per cent from the previous close of 38,193.92.

It opened at 38,516.88 and has so far touched an intra-day high of 38,522.73 and a low of 38,367.07 points.

The Nifty50 on the National Stock Exchange was trading at 11,364.65, higher by 86.65 points or 0.77 per cent from the previous close.

Shares of Reliance Industries (RIL) surged on Thursday as they touched a fresh record level of Rs 2,221.95 per share.

Currently, its trading at Rs 2,220.20 on the BSE, higher by Rs 58.95 or 2.73 per cent from the previous close.

The surge in share prices comes on the back of the announcement of Rs 7,500 crore investment by Silver Lake into Reliance Retail Ventures Ltd, an RIL subsidiary.

On Wednesday, RIL had announced that the investment values RRVL at a pre-money equity value of Rs 4.21 lakh crore. Silver Lake's investment will translate into a 1.75 per cent equity stake in RRVL on a fully diluted basis.