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Shares of Reliance Industries (RIL) has dipped nearly 3% at Rs 913, its lowest level since March 31 this year on BSE on reports that the company will not get the new gas price for its currently producing Dhirubhai-1 and 3 gas fields in eastern offshore KG-D6 till it makes up for the shortfall in production in the past four years. The stock touched a low of Rs 912 on NSE.
However, the stock recovered from its early morning low and trading lower by 1% at Rs 932 on BSE at 0944 hours. A combined 1.38 million shares changed hands on the counter so far on NSE and BSE.
The government on Saturday de-regulated the price of diesel and announced a new price for domestically-produced natural gas.
“Against the backdrop of the steep doubling of rates to USD 8.4 recommended by Ranagarajan Committee and cleared by the previous UPA government, the government today approved a 46% increase in natural gas prices that will go up from current USD 4.2 per million British thermal unit to USD 6.17 per mmBtu from November 1”, the PTI report suggests.
However, the stock recovered from its early morning low and trading lower by 1% at Rs 932 on BSE at 0944 hours. A combined 1.38 million shares changed hands on the counter so far on NSE and BSE.
The government on Saturday de-regulated the price of diesel and announced a new price for domestically-produced natural gas.
“Against the backdrop of the steep doubling of rates to USD 8.4 recommended by Ranagarajan Committee and cleared by the previous UPA government, the government today approved a 46% increase in natural gas prices that will go up from current USD 4.2 per million British thermal unit to USD 6.17 per mmBtu from November 1”, the PTI report suggests.
