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RIL’s debt-free dream is a tall order despite Facebook deal
Good news is a precious commodity these days. So, when Reliance Industries Ltd (RIL) announced a $5.7 billion investment from Facebook, Inc. in its digital subsidiary, Jio Platforms Ltd, investors were elated. RIL shares surged, adding to the gains made since end-March. The shares are now just 9.8% lower than the highs in mid-January; about a month ago, it was down as much as 44%.