RNRL surges 4%; RIL down marginally

Reliance was marginally down 1% at Rs 2000. Around one million shares were traded at the counter intra day.

Reliance Natural Resources Limited (RNRL) surged nearly 4% to Rs 91. The counter witnessed trades of around 22 million shares.
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Updated 1212 Hrs

RNRL has surged 4% on hopes of a settlement with Reliance (RIL) over the gas deal row.

The stock opened up 3.5% at Rs 90. It slipped into the red to a low of Rs 87 but soon surged nearly 7% to touch a high of Rs 93. It is currently trading 4% higher at Rs 91.

The company invited RIL to suggest a way forward to firm up the gas deal agreement. The Mukesh Ambani led RIL had been given an order by the Bombay HC to supply gas to Anil Ambani led RNRL. However, RIL is yet to agree to the decision as they are studying the implications of the judgement.

Meanwhile, Reliance Industries is down maginally (0.5%) at Rs 2,006. The stock opened at Rs 2,025 and touched a high of Rs 2,035. It slipped 3% from the high to a low of Rs 1,973. Over 507,000 shares have been traded at the counter on the BSE today.