By Ronnie Harui

Shares of Reliance Industries Ltd. and Future Retail Ltd. fell Friday after media reports that India's Supreme Court has ruled in favor of an arbitrator's order that had put the sale of Future Retail to a unit of Reliance Industries on hold.

The court's ruling was likely perceived as a major victory for U.S. e-commerce company Amazon.com Inc., which had filed petitions against the deal, as well as a setback for both Reliance Industries and Future Retail.

Reliance Industries' shares were last 2.0% lower at INR2,090.50, while Future Retail's shares were last down 9.9% at INR52.55.

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

08-06-21 0323ET