Shares of Reliance Industries, owned by Mukesh Ambani, will be in the spotlight on Monday. The company just announced that its subsidiary, Reliance Digital Health (RDHL), is purchasing a 45% stake in Health Alliance Group for $10 million.
The official deal was signed on December 20, 2024, and is expected to close within two weeks. This investment will help RDHL build a platform for virtual health check-ups and treatments, providing better access to healthcare for people who often don’t get it. Health Alliance Group is based in the US and started on December 21, 2023. They create technology solutions to help underserved communities in the US, India, and around the world by connecting healthcare with innovative technology.
Despite these positive moves, Reliance’s stock hasn’t been doing well lately. Over the past year, shares have fallen about 4.56%, and they have dropped 6.9% this year. In the last six months, the stock has dropped 18.14%, and it’s down 2.84% in just the last month. The stock is showing signs of being oversold, with a Relative Strength Index (RSI) of 31.
Note: Opinions shared in this article are those of experts and do not represent the views of thellv.news
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