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This is an archive article published on September 2, 2010

Reliance raises stake in EIH

RIL has bought an additional 0.68 in EIH,raising its holding to 14.8 in the hotel chain.

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Energy major Reliance Industries,controlled by billionaire Mukesh Ambani,has bought an additional 0.68 per cent in EIH,raising its holding to 14.8 per cent in the hotel chain.

EIH said in a filing to the Bombay Stock Exchange the shares were bought from the market on Tuesday.

Reliance,India8217;s top-listed conglomerate that is diversifying into new businesses,said on Monday it had bought 14.12 per cent of EIH for 217.5 million.

At 1:26 p.m.,Reliance shares were up 0.3 percent at Rs 939.3 in line with the Mumbai market. EIH shares were up 4.5 per cent at Rs 150.2.

 

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