RIL gains 5 percent; govt allows gas price hikes

MUMBAI (Reuters) - Shares in Reliance Industries Ltd rose nearly 5 percent on Friday after the government allowed the company to charge higher prices for gas from April.

The move came after the company offered financial guarantees to the government to settle any claims against it over a shortfall in its gas output.

Reliance shares were up 4.9 percent at 3.10 pm.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)