Reliance Industries (RIL) has advanced 1% to Rs 854, after yesterday's around 3% fall, on reports that the company agreed to drill three development wells at D6 block in the Krishna Godavari (KG) basin.
The company has been under attack from the Directorate General of Hydrocarbons (DGH) for not meeting drilling commitments for its flagship KG-D6 fields.
Meanwhile, the newspaper report suggests that, BP Plc, Europe's second-largest oil company, is hoping to help RIL find more oil and gas and boost output at the KG-D6 fields after its $7.2 billion deal.
Around 311,119 shares have changed hands on the counter on morning deals.
