RIL gains nearly 3% on reports of Aramco eyeing stake buy in its O2C biz

Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in the company's oil refining and chemicals (O2C) business, a Bloomberg report said

Shares of Reliance Industries (RIL) were up nearly 3 per cent at Rs 2,202 on the BSE in intra-day trade on Monday on a report that Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in the company’s oil refining and chemicals (O2C) business. The stock of the Mukesh Ambani-led RIL was trading at its highest level since June 24, 2021. It had hit a record high of Rs 2,368.80 on September 19, 2020.

The Middle Eastern energy firm is discussing the purchase of roughly 20 per cent stake in the Reliance unit for about