For Quick Alerts
For Daily Alerts

RIL Shares Gain On Rights Issue Plans, Upgraded Ratings


Shares of Reliance Industries Limited (RIL) rose over 1 percent in trade to an intraday high of Rs 1,453.65 on Wednesday. The surge comes after the oil-to-telecom conglomerate proposed a rights issue that could help the company continue with its debt reduction plans and also create a buffer for the financial impact from COVID-19.

Reliance Industries Shares Gain On Rights Issue Plans, Upgraded Ratings
Reliance Industries: Quotes, News
BSE 1452.40BSE Quote6.5 (-0.45%)
NSE 1454.45NSE Quote4.95 (-0.34%)

Analysts at Economic Times believe that the right issue could help RIL achieve its zero-net-debt-by March-2021 target even if there is a delay in the proceeds from its announced deals with Saudi Aramco and Facebook.

Further, S&P Global Ratings affirmed 'BBB+' long-term issuer credit rating with a 'stable' outlook on RIL on Wednesday and a 'BBB+' long-term issue rating on the company's outstanding debt.

"We expect the operating performance of India-based Reliance Industries Ltd. (RIL) to remain resilient over the next two years, prominent domestic market position in the digital and retail segments," it said.

The company is scheduled to release its financial results for the fourth quarter of 2019-20 on Thursday.

Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more