RIL gains 2% on report co discusses stake sale with Aramco; up 7% this week

According to a report by Financial Times, RIL has held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm

Reliance Industries shares advanced 2.4 per cent in the intra-day deals on Thursday to hit a high of Rs 2,045 apiece on the BSE after a report suggested that the Mukesh Ambani controlled company has held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm.

"Aramco is weighing paying for the stake with its shares initially and then staggered cash payments over several years... The proportion of shares versus cash was still up for debate and terms had yet to be finalised," said a report