New Delhi, May 14 -- Shares of leading paints manufacturer Asian Paints dipped nearly 2% in Wednesday's (May 14) trading session amid reports that the Reliance group is looking to sell its entire 4.9% stake in the company.

According to a report in The Economic Times, Reliance Industries has revived its plan to sell its 4.9% stake in Asian Paints. For this purpose, it has roped in Bank of America (BofA) to manage the transaction.

This is not the first time that Reliance has considered cashing in on its investment in Asian Paints. Back in 2020, too, it had entered into discussions with banks for a potential sale of its 4.9% stake in Asian Paints.

More to come...

Published by HT Digital Content Services with permission from MINT....