Reliance Industries-Aramco deal called off

Budding Star

Mukesh Ambani’s Reliance Industries Limited called off its deal with Saudi Aramco last week, after having missed out on two self-imposed deadlines

With RIL having shelved the 20% stake sale in the oil to the chemical unit (O2C), the stock came under selling pressure on Monday, falling more than 4% to hit an intra-day low of Rs 2,356

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ambani has backing of tech giants. aramco would have eaten up ambani in the long run.