Reliance Industries Industries (RIL) shares jumped over 2 percent to Rs 2,197 per share on the BSE today (August 16) after reports about Saudic Aramco and Reliance deal.

Shares were up 1.97 percent or Rs 42.25 at Rs 2,187.90 at 12.09 PM on the NSE. On the BSE, the shares were up 1.98 percent or Rs 42.45 at Rs 2,187.20.

Saudi Aramco is said to be in talks for about 20 percent stake in Reliance oil arm, reported Bloomberg Quint, citing Bloomberg News.

In its Annual General Meeting (AGM) held in June, RIL had said that it hopes to formalise its partnership with Saudi Aramco by the end of 2021.

In July, RIL said that the appointment of Yasir Al Rumayyan as an independent director of the company has taken effect from 19 July 2021, according to Capital Market. On 24 June 2021, the board of the conglomerate had approved the appointment of Yasir O. Al-Rumayyan, as an additional director of the company, designated as an independent director.

Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the oil-to-chemicals (O2C) business to the world’s largest oil exporter.