RIL shares celebrate LyondellBasell bid collapse

Indian Stock Market

RIL shares celebrate LyondellBasell bid collapse
Mumbai, Mar 3: Shares of Reliance Industries Ltd (RIL) celebrated the news of bankrupt LyondellBasell Industries rejecting the Indian oil behemoth's bid by surging up to 3 per cent on Wednesday, Mar 3 morning.

RIL had made a 14.5 billion dollar bid to the bankrupt petrochemicals group. When the news emerged that LyondellBasell had rejected the offer the index heavyweight extended its gains.

However, there is no official confirmation on the reports of the bid being rejected.

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