RIL, Future Group stocks under pressure after interim relief to Amazon
Live MintMUMBAI: Shares of Reliance Industries Ltd and Future Group stocks slumped on Monday after Amazon received a favourable ruling in Singapore arbitration court with regard to the Future-RIL deal. On Sunday, US retail giant Amazon secured a major relief against the proposed ₹24,713-crore combination of Reliance Retail Ventures Ltd and Future Group’s retail and wholesale business when a Singapore arbitration panel ruled that the two parties could not go ahead with the transaction for the time being. While Amazon has won an interim relief, both Reliance and Future Retail in separate statements said they intend to proceed with the deal. Reliance Retail said it intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay.