RIL slides 4% in four sessions

Reliance Industries (RIL) declined 2.26% to Rs 1,928, extending losses to fourth consecutive session.

Shares of RIL slipped 3.68% in four trading sessions from a recent closing high of Rs 2,001.80 on 14 November 2020.

RIL and Reliance Retail Ventures (RRVL) in a joint statement on 19 November 2020 said that they have completed the current phase of partner induction and fund raise exercise for RRVL. RRVL has received cumulative subscription amounting to Rs 47,265 crore (or 10.09% stake in RRVL) from the nine financial partners and allotted 69.27 crore equity shares to them.

The nine financial partners and their respective stakes are as follows: Silver Lake Partners (1.60% stake), Silver Lake Partners - Co-Investors (0.40% stake), KKR (1.19% stake), Mubadala (1.33% stake), ADIA (1.18% stake), GIC (1.18% stake), TPG (0.39% stake), General Atlantic (0.78% stake) and PIF (2.04% stake).

RIL's consolidated net profit fell 6.6% to Rs 10,602 crore on 25.5% decline in net sales to Rs 1,11,236 crore in Q2 September 2020 over Q2 September 2019.

RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

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