Mumbai: Shares of Long term Group businesses hit their higher circuit of 5% on Wednesday as buyers hoped that a deal with Reliance Industries Ltd (RIL) could be expedited soon after Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries, obtained on the net pharmacy Netmeds.

Long run Group is considering providing stakes in its retail arm, Upcoming Retail and other models to Reliance Industries Restricted (RIL).
Shares of Upcoming Enterprises, Potential Market Networks, Long term Client, Future Way of living Fashions and Foreseeable future Supply Chain strike the upper circuit of 5% on the BSE. Shares of Long term Retail acquired 19% to ₹118.80.
In March, Long term Team promoter Kishore Biyani had defaulted on loans, and numerous ranking organizations had downgraded credit ratings of Potential Retail right after the default and invocation of pledged shares by the creditors. Thus, if this deal materializes, it can act as a breather to Upcoming Group.
On Tuesday, RIL obtained majority equity stake in Chennai-based mostly Vitalic Wellness Pvt. Ltd. and its subsidiaries (collectively recognised as ‘Netmeds’) for roughly ₹620 crores in cash.

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