RIL becomes 1st Indian company to hit Rs 19-trillion m-cap
Published On: Wednesday, April 27, 2022 | By: Team KnowMyStock
In the past seven trading days, the stock price of RIL has appreciated by 11 percent from a level of Rs 2,544 on April 18, 2022. In the past three months, the stock has rallied 20 percent, as compared to a 0.42 percent decline in the S&P BSE Sensex.
RIL and Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ)yesterday(26 pril 2022) signed a shareholder agreement for a chemical project in Ruwais, Abu Dhabi. The development acquires significance as it will focus on Chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production, which is used in a wide range of industrial applications.
This is expected to unlock new revenue streams for RIL as well as the Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, who are strategic partners in TA’ZIZ, a joint venture company.
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