Shares of Reliance Industries Ltd collapsed 3% on Friday due to a fundraising programme selling company’s 10% stake in Reliance Retail venture. RIL’s stocks are trading lower for the fourth consecutive Intraday session. At 10.32 IST, RIL was trading at Rs1,934 on BSE, down 2% from its previous close. RIL’s script fell down to Rs 1934 causing a decline of 2.95%. The company on Thursday informed it is temporarily raising funds for Reliance Retail Venture and diverted a stake of 10.9% to them.
RIL’s stock slips value as company sells 10% stake of Reliance Retail Industries
