RIL gains on buzz of investment plans in D6 block

Reliance Industries rose 2.4% to Rs 927.60 at 11:25 IST on BSE on reports that the firm and its partner BP plc of UK will invest about Rs 6000 crore by 2016 to improve gas recovery in KG-D6 block.

Meanwhile, the S&P BSE Sensex was down 151.88 points or 0.51% at 29,407.30.

On BSE, so far 2.92 lakh shares were traded in the counter as against average daily volume of 3.91 lakh shares in the past one quarter.

The stock hit a high of Rs 934.25 and a low of Rs 902 so far during the day. The stock had hit a 52-week high of Rs 1,142.50 on 16 May 2014. The stock had hit a 52-week low of Rs 794 on 28 February 2014.

The stock had underperformed the market over the past one month till 28 January 2015, advancing 1.9% compared with the Sensex's 8.51% rise. The scrip had also underperformed the market in past one quarter, declining 3.02% as against Sensex's 9.96% rise.

The large-cap company has equity capital of Rs 3235.52 crore. Face value per share is Rs 10.

According to reports, Reliance Industries (RIL) and its partner BP plc of UK will invest about Rs 6000 crore by 2016 to help sustain and improve recovery from the two main gas fields in the eastern offshore KG-D6 block.

RIL's consolidated net profit fell 4.5% to Rs 5256 crore on 20.8% decline in net sales to Rs 93528 crore in Q3 December 2014 over Q3 December 2013.

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

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