Reliance Industries Share Rises.
The stock price of RIL has risen as a result of the 7-Eleven convenience store deal.
On October 7, Reliance Industries' stock rises more than 1% when a subsidiary announced a partnership with 7-Eleven to open convenience stores.
"Through its wholly owned subsidiary, 7-India Convenience Retail, Reliance Retail Ventures (RRVL) has entered into a master franchise agreement with 7-Eleven, Inc (SEI) for the introduction of 7-Eleven convenience stores in India," Reliance Industries said in a news release on Wednesday.
On October 9, the first 7-Eleven store will open in Andheri East, Mumbai. It will then be followed by a quick rollout in key neighbourhoods and commercial regions, starting with the Greater Mumbai cluster.
RRVL is a subsidiary of Reliance Industries Ltd. (RIL) and the holding company for the RIL Group's retail businesses.
"At Reliance, we take pleasure in providing the best to our customers, and we are excited to bring 7-Eleven, the world's most trusted convenience store, to India," says the company "Reliance Retail Ventures Director Isha Ambani stated.
"7-Eleven is one of the most well-known convenience store brands in the world. The new pathways we're constructing with SEI will provide Indian customers with more convenience and options in their local communities.
Reliance Industries was trading at Rs 2,577.45 on the BSE at 10:35 a.m., up Rs 17.25, or 0.67 percent. On October 6 and January 29, the stock hit a 52-week high of Rs 2,623 and a 52-week low of Rs 1,830, respectively.
It's currently trading 1.74 percent lower than its 52-week high and 40.84 percent higher than its 52-week low.
