Reliance Stock Recoups All Losses Suffered Due To Aramco Deal Collapse

Shares of Reliance Industries Ltd. gained as much as 6.2%, the most in nearly two months, to reach their level before the company scrapped a deal to sell Saudi Arabian Oil Co. a stake in its oil-to-chemicals unit.

The shares fell 4.9% through Wednesday from Thursday’s close after the company ended a plan announced more than two years ago to sell a 20% stake in the unit to Aramco.

Bharti Airtel Affirmed At BBB- By Fitch 

Bharti Airtel Ltd.’s long-term issuer default rating was affirmed by Fitch at BBB-.

  • Senior Unsecured Debt Rating was affirmed by Fitch at BBB-
  • Outlook remains negative

JSW Energy Board Approves Re-Organisation Of Renewable And Thermal Businesses

The board of JSW Energy Ltd. has approved the re-organisation of its renewable and thermal businesses. All existing and upcoming renewable energy businesses will be housed under JSW Energy Neo Ltd, which will be a wholly owned subsidiary of the company.

“It will streamline renewable portfolio and facilitate fund-raising and unlocking value for shareholders,” the company said in a statement.

The company further said that JSW Neo Energy Ltd. will be the vehicle for JSW Energy to drive the company’s growth plans in renewable energy – across generation, energy storage and green hydrogen. The company’s operational hydro projects (Karcham: 1,091 MW, and Baspa II 300 MW) and all upcoming renewable energy projects will be housed in subsidiaries under JSW Neo Energy.

Reliance Stock Recoups All Losses Suffered Due To Aramco Deal Collapse via @goldsilverrepor
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