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RIL Saudi Aramco Deal up 6% in Reliance shares this week


RIL Saudi Aramco Deal up 6% in Reliance shares this week 1

New Delhi. This week, the stock of Reliance Industries has been witnessing a steady rise. The effect of which is being seen in the entire stock market. Whenever there is a stir in the shares of Reliance, then the stock market also shakes. According to the data, the Indian markets have seen a rise of more than 4 percent this week. Speaking of the last three days, RIL stock is seeing an increase of more than 6%. RIL is currently trading at Rs 2,029, up from Rs 1,904, which closed on 23 April.

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Why is it getting faster?
According to an April 28 report by London’s Financial Times, RIL and Saudi Aramco have been in constant talks over the sale of a 20 per cent stake in RIL’s oil and petrochemical refining arm. According to the report, this deal can be seen in both cash and shares. According to foreign firm Jefferies, Reliance’s stock could reach around Rs 2,600. Jefferies says the stake sale will help reduce the company’s carbon footprint, reduce debt and complete the first phase of RIL’s energy balance.

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Will Reliance’s stock get a big boost?
RIL has been witnessing a period of ups and downs in the last six months. On October 30, 2020, the company’s stock closed at Rs 2,054.5. Is this small rally a sign that RIL may see a big boom in the coming days. Let us tell you that Reliance’s stock is currently seeing a gain of 1.51 per cent.


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