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RIL Stock 2% Away From 52-Week High Price; Net Debt To Fall 75% Post Vista Equity Deal

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Reliance Industries shares
in trade on May 8, 2020 jumped 4.5% to an intra-day high of Rs. 1579.7 per share.

 

But the coronavirus-led stock market crash in March, triggered high-order losses in the stock of RIL which recorded its 52-week low price of Rs. 875.65 on March 23, 2020. Since then the stock has shown remarkable recovery and is now just 2% away from its 52-week high price of Rs. 1617.8. The 52-week high price was last recorded on December 20, 2019.

RIL Stock 2% Away From 52-Week High; Vista Equity Deal To Pare 75% Net Debt

The latest high profile investment by Vista Equity in company's technology platform is said to pare the conglomerate's net debt by 75%. Earlier Facebook and Silver Lake Investment also invested in the Jio platform of the company.

As of last year on account of capital expenditure over the last few years to augment the company's retail and telecom division and also for some refining projects, the company net debt stood at Rs. 1.61 Lakh crore. And through the latest deal, the company has already managed to raise Rs. 1.2 lakh crore.

Last, the stock of RIL was trading at Rs. 1565.7, up 3.9% or Rs. 58.75.

 

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