Reliance Industries edge higher in early trade

Reliance Industries rose 0.02% to Rs 886.95 at 9:15 IST on BSE after the company said it has signed shipping agreements with MITSUI O.S.K. Lines, for transporting liquefied ethane from North America to India.

The announcement was made beforemarket hours today, 26 December 2014.

Meanwhile, the S&P BSE Sensex was up 50.04 points or 0.31% at 27,292.29.

On BSE, so far 3,874 shares were traded in the counter as against average daily volume of 5.60 lakh shares in the past two weeks.

The stock hit a high of Rs 889.90 and a low of Rs 886 so far during the day.

Reliance Industries (RIL) said it has signed shipping agreements with one of the world's largest and reputed shipping companies MITSUI O.S.K. Lines (MOL) for transporting liquefied ethane from North America to India. MOL will supervise the construction of six very large ethane carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered, RIL said.

RIL's consolidated net profit rose 1.7% to Rs 5972 crore on 4.9% decline in net sales to Rs 109797 crore in Q2 September 2014 over Q2 September 2013.

RIL is into petroleum refining and marketing, exploration & production and manufacture of petrochemicals.

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