Shares of Reliance Industries (RIL) increased 2.1% on Friday 29 November after the company’s US-based subsidiary purchased a 21% share in Wavetech Helium, Inc. (WHI).
 
According to the agreement, Reliance Finance and Investments would pay $12 million in total to purchase a 21% share.

In order to extract helium gas from subterranean resources, WHI, a US corporation, is involved in the acquisition, exploration, and development of properties.

The company owns resources and helium gas deposits (including proven ones) in E-SE Colorado/W Kansas and NW Montana, two of the world’s top helium fairways, according to WHI’s website.
 
A major participant in India’s financial services industry, Reliance Finance and Investments is a division of the Reliance Group and provides a broad range of goods and services. It assists clients in increasing their wealth by offering investment management services, such as portfolio management and mutual funds. 

The business also provides capital market services, loans, and advisory services for mergers and acquisitions. Through wealth management services and individualized financial planning, Reliance Finance and Investments also serves high-net-worth individuals (HNIs). 

It is a member of Reliance Capital and makes a substantial contribution to the group’s varied financial services portfolio with its retail finance, insurance, and lending offerings.

Under the leadership of Mukesh Ambani, Reliance Industries Limited (RIL) is one of the biggest and most varied corporations in India. Dhirubhai Ambani founded RIL in 1966, and since then, it has grown to become a major player in a number of industries, including media, telecommunications, retail, oil and gas, petrochemicals, and refining.

At 3:30 pm, the shares of Reliance Industries closed 1.63% higher at Rs 1,291.50 on NSE.

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