RELDA | Quote | Chart | News | PowerRating -- Reliance Industries, India's most valuable company, is eyeing overseas acquisitions, aggressive exploration campaign and investments in petrochemicals to drive growth, Chairman Mukesh Ambani said Tuesday.
RIL is aiming global scales in its core business of conventional energy - petrochemicals, refining and oil and gas exploration, even as it invests in new ventures like retailing and alternative energy.
"Global growth by acquisitions" is key to growing its energy business, Ambani told company shareholders. "Our efforts would be to grow the conventional energy" business through greater "global scale." Though Ambani did not elaborate, his comments assume importance as RIL is said to be looking at acquiring petrochemical and oil refining assets in the US and may also be looking at venturing into shale gas business.
"The business transformation initiative would create a RIL that is able to scale up existing businesses; adds new business both organically and inorganically," he said.
RIL shares fell 0.65 per cent to Rs 2133.75 in volatile trade that saw the stock market closing flat.
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