RIL gains 2% ahead of Q1 results

Reliance Industries (RIL) has opened 2% higher at Rs 883 after the government on Friday gave unconditional approval to the India's biggest private sector company, to sell 30% interest in 21 blocks to British Petroleum. The government, however, withheld permission for another two blocks.

The two companies had on February 21 announced that BP would pay $7.2 billion to RIL for the deal. The deal is one of the major Foreign Direct Investment (FDI) in the history of India.

Meanwhile, the company will declare its Q1FY12 results today

Around 200,000 shares have changed hands on the counter in opening deals on the NSE and the BSE.