Indian energy major Reliance Industries, controlled by billionaire Mukesh Ambani, has bought an additional 0.68 per cent in EIH Ltd, raising its holding to 14.8 per cent in the hotel chain.
EIH said in a filing to the Bombay Stock Exchange the shares were bought from the market on Tuesday.
Reliance Industries: Good buy, bad buy
Reliance, India's top-listed conglomerate that is diversifying into new businesses, said on Monday it had bought 14.12 per cent of EIH for $217.5 million.
At 1:26 pm, Reliance shares were up 0.3 per cent at Rs 939.3 in line with the Mumbai market. EIH shares were up 4.5 per cent at Rs 150.2.
