Reliance Industries (RIL) has moved higher by nearly 3% at Rs 875 in noon deals on BSE, extending its 5% rally in past two days, after the company and its partner BP Plc on Thursday won approval to invest $3.18 billion in R-Series gas field in the flagging KG-D6 block.
RIL-BP plan to quickly bring satellite fields in the KG-D6 block to production to help reverse the decline in output, the PTI report suggests.
Meanwhile, the stock energy giant has outperformed the market by surging 12% since August 21, after RIL-BP announced a new gas condensate discovery off the east coast in the Cauvery basin. The company has notified the government and the Directorate General of Hydrocarbons about the discovery named, D-56.
The stock opened at Rs 852 and has seen a combined 2.3 million shares changing hands on the counter so far on BSE and NSE.
RIL-BP plan to quickly bring satellite fields in the KG-D6 block to production to help reverse the decline in output, the PTI report suggests.
Meanwhile, the stock energy giant has outperformed the market by surging 12% since August 21, after RIL-BP announced a new gas condensate discovery off the east coast in the Cauvery basin. The company has notified the government and the Directorate General of Hydrocarbons about the discovery named, D-56.
The stock opened at Rs 852 and has seen a combined 2.3 million shares changing hands on the counter so far on BSE and NSE.
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