RIL clarifies on reports of acquiring Garden Vareli brand

The company further stated that it has evaluated various opportunities on an ongoing basis.

Feb 27, 2019 03:02 IST India Infoline News Service

Reliance Industries, in its filing to the exchanges, clarified on media reports which stated that RIL, TCG front-runners to take over iconic Garden Vareli brand and said that it is mere speculation in the media space.

"We would like to clarify that we are unable to comment on media speculation and rumors and it would be inappropriate on our part to do so," the company said in a press note after market hours to the exchanges on Tuesday.

The company further stated that it has evaluated various opportunities on an ongoing basis.

As per media reports, RIL and the Chatterjee Group (TCG) have emerged front-runners to take control of the financially struggling Garden Silk Mills Ltd.

Reliance Industries Ltd's share price ended at Rs1,227.40, up by Rs7.7 or 0.63%, from its previous close of Rs1,219.70 on the BSE.
The scrip opened at Rs1,227.40 and touched a high and low of Rs1,227.40 and Rs1,227.40, respectively. A total of, 11,066 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs7,73,127.09cr.

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