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Wednesday, August 17, 2022

With over Rs 1.69L crore raised in 58 days, RIL debt-free before March 2021 target

Shares of RIL surged 6.23 per cent to Rs 1,759.50 on the BSE on Friday, with a market capitalisation of Rs 11.15 lakh crore.

By: ENS Economic Bureau | Mumbai |
June 20, 2020 1:08:47 am
reliance KG-D6, reliance KG-D6 dispute, reliance KG-D6 liability dispute, reliance news RIL’s net-debt was Rs 1,61,035 crore as of March 2020.

Reliance Industries Limited (RIL) on Friday said it has become free of net debt ahead of March 2021 target after raising Rs 1,68,818 crore from stake sales and a rights issue in 58 days.

Shares of RIL surged 6.23 per cent to Rs 1,759.50 on the BSE on Friday, with a market capitalisation of Rs 11.15 lakh crore. RIL’s net-debt was Rs 1,61,035 crore as of March 2020. RIL chairman-MD Mukesh Ambani said, “We have fulfilled our promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021.”

Sensex gains another 524 pts on RIL rally

Led by Reliance Industries (RIL) shares, stock markets on Friday rallied another 1.5 per cent on firm global cues, capital inflows and domestic investor support. Despite India-China border tensions and rising Covid infections, the Sensex gained another 524 points to 34,731.73 and the NSE Nifty Index rose 153 points to 10,244.40.
The gains were led by RIL, which contributed half of the gains for Nifty. The rupee closed 6 paise lower at 76.20 against the US dollar.

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First published on: 20-06-2020 at 01:08:47 am

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