Reliance Retail Commands $83-Billion Valuation In OTC Market

The retail business of Reliance Industries Ltd. is valued higher in the over-the-counter market than brokerage estimates as the shares have surged amid talks of a stake sale in the unit.Reliance Retail shares are currently trading at Rs 1,200-1,250 apiece in the OTC market, according to Harshvardhan Roongta, founder of Roongta Securities. Given its equity of 499.06 crore shares, the valuation works out to Rs 5.98-6.23 lakh crore—or $...