RIL hits three-month high, stock up 2.5%

RIL has agreed to share KG-D6 accounts with the national auditor under the production sharing contract terms

Reliance Industries (RIL) is trading higher by 2.5% at Rs 761, also its highest level since April 2012, in morning deals on the National Stock Exchange. The stock opened at Rs 748 and has seen a combined 564,951 shares changing hands on the counter in opening trades.

According to reports, RIL has agreed to share KG-D6 accounts with the national auditor under the terms of the production sharing contract (PSC), meeting a key demand of oil minister Jaipal Reddy ahead of a crucial meeting of the block's management committee.

The management committee (MC) of RIL’s KG-D6 is scheduled to consider commercial viability of the three new gas discoveries on Tuesday, the report suggests.