Mumbai, July 08: Share prices rose on Monday, led by gains by Reliance Group companies on hopes growth will be sustained despite the death on Saturday of founder Dhirubhai Ambani, brokers said.
By 12.30 pm, the Sensex was up 23.73 points at 3354.34 points.

Gainers swamped losers six to one amid moderate volume of 43.4 million shares.

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Reliance Industries, the nation's biggest petrochemicals maker, gained 3.11 per cent to Rs 271.5 while Reliance Petroleum, the biggest private refiner, rose 2.75 per cent to Rs 24.25.

"The market had already factored in the news and, looking ahead, there seems to be no trouble with either succession or in sustaining growth," a portfolio manager at a domestic fund said.

Ambani died 13 days after being rushed to hospital after suffering a cerebral stroke. He was 69 years old.

The initial news of the stroke caused the share prices of the two key Reliance companies to tumble.
At Friday's close, Reliance Industries had dropped 7.1 per cent and Reliance Petroleum by 6.2 per cent since Ambani was hospitalised.

The two stocks jointly account for 15 per cent of the benchmark 30-scrip Sensex, which rose 4 per cent during the period.

Dhirubhai's sons Mukesh and Anil were already in charge of running the conglomerate, with total assets of Rs 55,000 crore in four listed companies and turnover worth Rs 60,000 crore ($12.3 billion).
Bureau Report