)
Reliance Industries (RIL) is trading lower by nearly 2% at Rs 796, falling below Rs 800 mark first time in past six months, on the National Stock Exchange (NSE) in otherwise firm market. The stock is currently trading at its lowest level since August 28 2013.
The stock opened at Rs 810 and touched a high of Rs 815 in early morning deals on the NSE. A combined 2.37 million shares changed hands on the counter till noon deals on both the exchanges.
Shares of the country’s largest private refiner is among the major losers among the S&P BSE Sensex companies, falling nearly 11% compared to 0.56% decline in benchmark index so far in the current calendar year 2014.
On Sunday, while challenging the BJP’s prime ministerial candidate Narendra Modi to get the black money kept in accounts in Switzerland back into India, the Aam Aadmi Party (AAP) chief Arvind Kejriwal mentioned two account numbers, claiming these belonged to Mukesh and Anil Ambani.
However, RIL has denied the AAP’s allegations against the company and its chief Mukesh Ambani. It said the AAP’s “continued tirade” against RIL appeared to be instigated by vested interests. “As stated earlier, it is being reiterated neither Reliance Industries nor Mukesh Ambani have or had any illegitimate account anywhere in the world,” said a company statement.
Meanwhile, according to media reports RIL fears that it may be compelled to shut down production from KG-D6 block in the absence of an agreement on the price of gas.
RIL has to sign sales agreements with consumers three weeks before the new price comes into effect (April 1). The existing gas sales and supply agreements expire on March 31, a Business Line report suggests.
The stock opened at Rs 810 and touched a high of Rs 815 in early morning deals on the NSE. A combined 2.37 million shares changed hands on the counter till noon deals on both the exchanges.
Shares of the country’s largest private refiner is among the major losers among the S&P BSE Sensex companies, falling nearly 11% compared to 0.56% decline in benchmark index so far in the current calendar year 2014.
On Sunday, while challenging the BJP’s prime ministerial candidate Narendra Modi to get the black money kept in accounts in Switzerland back into India, the Aam Aadmi Party (AAP) chief Arvind Kejriwal mentioned two account numbers, claiming these belonged to Mukesh and Anil Ambani.
However, RIL has denied the AAP’s allegations against the company and its chief Mukesh Ambani. It said the AAP’s “continued tirade” against RIL appeared to be instigated by vested interests. “As stated earlier, it is being reiterated neither Reliance Industries nor Mukesh Ambani have or had any illegitimate account anywhere in the world,” said a company statement.
Meanwhile, according to media reports RIL fears that it may be compelled to shut down production from KG-D6 block in the absence of an agreement on the price of gas.
RIL has to sign sales agreements with consumers three weeks before the new price comes into effect (April 1). The existing gas sales and supply agreements expire on March 31, a Business Line report suggests.
