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RIL to resume treasury stock sale soon

Reliance Industries Ltd (RIL), the country’s largest private company by market capitalisation, is planing to resume the sale of treasury shares held by its Petroleum Trust. The trust would be offloading around 40 million of the 120 million shares (3.68 per cent stake) it holds in the next few days, informed sources. The share’s closing price today was Rs 982, down 0.6 per cent on the Bombay Stock Exchange. The stock has witnessed a sharp fall from Rs 1,080 in the past few weeks. The company is also likely to offload the entire lot of treasury shares in the next few months, said ...