Best of BS Opinion: A bubble building in bond mkt, RIL-Aramco deal and more

RIL AGMs have become events at which, rather like a prime minister's Independence Day speech, Chairman Mukesh Ambani is expected to make some big bang statements writes Kanika Datta

Reliance Industries Ltd (RIL) AGMs have become events at which, rather like a prime minister’s Independence Day speech, Chairman Mukesh Ambani is expected to make some big bang statements. This year’s event did not disappoint, with Asia’s richest man announcing that Saudi Aramco had bought a 20 per cent stake in the refining and chemical business of India’s largest company by market capitalisation. The significance of this: it will go a long way towards reducing the conglomerate’s burgeoning debt, which had attracted a downgrade from the brokerage Credit Suisse just last week, says the lead edit here. In other views,