Promoters increase stake in RIL, IPCL

Reliance Industries' (RIL) promoters have hiked their stake in RIL and and group company IPCL. The two companies are part of the Mukesh Ambani group since the division of the group between Mukesh and Anil Ambani.

The promoters have acquired a controlling 50.62-per cent stake in their flagship venture RIL, while also raising their holding in IPCL to 46.64 per cent at the end of October-December quarter.

In RIL the promoter group that includes 42 entities and six individuals — Mukesh Ambani, his family members and mother Kokilaben D Ambani — have bought about 0.70 per cent during the quarter, from 49.92 per cent at the end of September 2006 quarter.

In IPCL their stake now stands at 46.64 per cent in the three months period ending December 2006, from 46.48 per cent in the previous quarter, the shareholding data available on the stock exchanges shows.

However, in other group companies like Reliance Petroleum and Reliance Industries Infrastructure Ltd (RIIL), the promoter stake remains unchanged. In RPL, they own 80 per cent including the 75 per cent held by Reliance Industries and five per cent by US oil major Chevron. RIL holds a 46.23 per cent stake in RIIL as the single promoter.

In the group of companies that are now part of Anil Ambani's group — Reliance Communications, Reliance Energy, Reliance Capital and Reliance Natural Resources — the promoters' stake remained unchanged.