<p>Reliance Industries is considering buying out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, business channel ET Now reported on Friday, citing sources.</p>.<p>The report comes as Revlon filed for bankruptcy earlier this week after global supply chain disruptions drove up raw material costs and prompted vendors to demand upfront payments.</p>.<p>Reliance has pushed its way into the fashion and personal care space in recent months as it diversifies away from its mainstay oil business. It has already established a foothold in telecom and retail sectors.</p>.<p>Shares of Revlon jumped 20 per cent to $2.36 in premarket trade following the report. Reliance was up 1.9 per cent in the Mumbai market.</p>.<p>Reliance and Revlon did not immediately respond to Reuters' requests for comment. </p>
<p>Reliance Industries is considering buying out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, business channel ET Now reported on Friday, citing sources.</p>.<p>The report comes as Revlon filed for bankruptcy earlier this week after global supply chain disruptions drove up raw material costs and prompted vendors to demand upfront payments.</p>.<p>Reliance has pushed its way into the fashion and personal care space in recent months as it diversifies away from its mainstay oil business. It has already established a foothold in telecom and retail sectors.</p>.<p>Shares of Revlon jumped 20 per cent to $2.36 in premarket trade following the report. Reliance was up 1.9 per cent in the Mumbai market.</p>.<p>Reliance and Revlon did not immediately respond to Reuters' requests for comment. </p>