RIL hits 52-week high on hopes of gas pricing formula
Mukesh Ambani-controlled Reliance Industries' stock touched a new 52-week high of Rs 2022 on reports that the government may approve Reliance Industries' gas pricing formula.
By PTI |
MUMBAI: Mukesh Ambani-controlled Reliance Industries' stock touched a new 52-week high of Rs 2022 on reports that the government may approve Reliance Industries' gas pricing formula.
Later, the shares of the country's largest private sector company closed 1.34 per cent up at Rs 2012.95.
The government appears set to approve Reliance Industries' pricing formula for the gas it plans to produce from July next year from KG basin with minor changes, reports suggest.
The empowered Group of Ministers (eGoM), which had its third meeting today morning, was near unanimous on the need to honour the government's commitment to allow marketing and price freedom to investors in oil and gas, it suggested.
The eGoM has left the final decision on RIL's gas pricing to External Affairs Minister Pranab Mukherjee.
Later, the shares of the country's largest private sector company closed 1.34 per cent up at Rs 2012.95.
The government appears set to approve Reliance Industries' pricing formula for the gas it plans to produce from July next year from KG basin with minor changes, reports suggest.
The empowered Group of Ministers (eGoM), which had its third meeting today morning, was near unanimous on the need to honour the government's commitment to allow marketing and price freedom to investors in oil and gas, it suggested.
The eGoM has left the final decision on RIL's gas pricing to External Affairs Minister Pranab Mukherjee.
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