Reliance Shares Fall By 4.2% After Halting $15 Billion Aramco Deal

Reliance Industries' stock dropped 4.2 percent on November 22 after the company postponed a share sale to Saudi Arabia's Aramco. According to reports, the company planned to sell 20 percent of its share to the world's largest oil exporter for $15 billion. "Deal cancellation may not hurt the conglomerate's balance sheet but will lose a chance to set a benchmark of $75 billion valuations for the oil business", said analysts.