Shares of Reliance Industries (RELI.NS) advanced 0.5% to close at 1,450.80 rupees on Friday, as investors reacted to the conglomerate's latest international expansion move. The stock traded between 1,433.50 and 1,452.80 rupees during the session, with Indian markets now closed for the weekend.
Consumer Unit Expands Portfolio
Reliance Consumer Products Ltd announced it has secured a majority stake in Australia's Goodness Group Global, owner of beverage brands including Nexba and PACE. The fast-moving consumer goods arm intends to leverage its distribution network to introduce these "better-for-you" drinks into new markets, including India, alongside its existing brands. Financial terms of the transaction were not disclosed.
"This is a bold step in our growth journey," stated RCPL director T. Krishnakumar. Goodness Group founder Troy Douglas projected the partnership could enable entry into up to 50 Western markets within five years.
Market Context and Performance
The acquisition news emerged against a mixed market backdrop. India's Nifty 50 index edged up 0.2% on Friday, while the Sensex posted a weekly gain of 0.32%. Trading volume for Reliance shares was approximately 348,265, roughly half its 50-day average. The stock continues to trade about 10% below its 52-week peak of 1,611.20 rupees reached in early January.
Analysts note that while the deal is unlikely to immediately impact group earnings, it reinforces Reliance's strategic focus on expanding its consumer portfolio. "The U.S.-India trade agreement came completely out of nowhere, clearing a major overhang," commented Aishvarya Dadheech of Fident Asset Management, highlighting broader economic factors influencing sentiment.
Attention now turns to Monday's market reopening, where investors will monitor for any formal exchange disclosures detailing the acquisition's financials. Market participants will also watch for developments in crude oil prices and currency movements, which traditionally influence Reliance's energy-linked segments.