RIL Shares Tops Again
After having decreased in the last four trading sessions, Reliance Industries Shares India’s most valued stock, were among the top gainers on the 50- share Nifty benchmark as of Jan 30th as it traded 2 percent higher at Rs.900 on the Bombay Stock Exchange outperforming the broader BSE oil and gas index and here is as to why. Firstly, with the value buying, the stock has lost 4.3 percent over the last four sessions, attracting long term investors. Secondly, with the newly formed Cabinet Committee on investment may clear the 47 oil & gas blocks, including RIL’s producing KG-D6 gas fields, where defense approval has either been withdrawn. Thirdly, RIL has successfully raised $800 million via a perpetual bond sale at 5.875 percent coupon which is the first senior long rated bond issuance by a domestic company.