Dalal Street is abuzz about a possible stake sale by Mukhesh Ambani’s Reliance Industries (RIL) in the blue-chip stock Asian Paints, which is expected to reap India’s most-valuable company a neat profit of over 2,000%.
RIL acquired a stake in Asian Paints in 2008, when the company was a stock market darling, for around ₹500 crore. That stake is now worth ₹10,730 crore based on Asian Paints’ latest closing price. If sold at current levels, it could reap Reliance Industries a multibagger gain of 2,046%.
