Saudi Arabia’s PIF set to pick up 2.33% stake in RIL’s Jio for $1.5 billion

[resjudicata]

Jio is not listed anywhere currently.

 

[resjudicata]

I know it isn't but it will be very soon. I just wanted to know about the impact on RIL

 

[paintertim60]

@semaj02 I can't wrap around in my mind just how much money must these oil conglomerates have accumulated in the past 50 years that they can make such expensive deals at a time when oil prices are at the bottom, there is a global pandemic and world's biggest GDP is going through a revolution.

 

[31deut8]

@paintertim60 Aramco makes revenue of $1 Billion per day.

Thats $1,000,000,000 per day.

They have been making that for decades. [adjusting inflation]..

 

[ray34iyf]

@31deut8 They single handedly run the Saudi economy.

 

[veronique]

@paintertim60 Norway has been most responsible out of all these - https://www.nbim.no/

Fund is valued at $1.148T and holds estimated 1% of Global equity value along with lot of real estate assets

Started at $23B in 1998

 

[teddyu4921]

@paintertim60 Most profitable and market capitalised firm in the world for a reason.

 

[travelingfarmgal]

@semaj02 Investments are raining down for reliance jio.

 

[resjudicata]

@semaj02 I am glad I decided to go long on my RIL stocks. I was about to sell when it hit 1500+ but now I am looking for a longer term!

 

[ray34iyf]

@resjudicata Congratulations. I never looked up to RIL, despite it being one of the most attractive stocks of recent times. Stupid me.

 

[resjudicata]

@ray34iyf To be honest I was never happy with this stock. I never liked the Reliance company or their practices but hey as long as it's making me some money that's okay I guess.

 

[yessina]

@semaj02 Expect a breakout in one or 2 days.

 

[wajohns]

@semaj02 Reliance has lost the confidence of being an Indian company anymore

 

[oceanguy]

@wajohns Just like alibaba isn't a Chinese company?

 

[michellelovesjay]

@wajohns ??