The share price of heavyweight Reliance Industries jumped over 6 percent hitting an all-time high intraday on January 29. After Bloomberg reported a substantial erosion in valuation for Walt Disney’s India unit ahead of its proposed merger with Mukesh Ambani’s media business, the RIL stock experienced gains. Following negotiations, the valuation of Disney’s India assets is currently estimated at around $4.5 billion, significantly lower than its initial demand of $10 billion, as mentioned in the report. The combined entity is targeting an $11 billion valuation, with Disney holding a 40 percent stake in the venture. At close, Reliance Industries’ market cap was Rs 19,59,444.03 crore.
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