Reliance Industries Shares Up Ahead Of Gas Dispute Hearing
The shares of Mukesh Ambani-led Reliance Industries moved up on Monday as the Supreme Court was all set to commence hearings on the dispute over gas supplies from its Krishna-Godavari hydrocarbon asset.
The company's shares opened strong on the Bombay Stock Exchange (BSE) at Rs.1,960, against Friday's close at Rs.1,933.40 and soon moved higher to Rs.2,020.
About an hour-and-a-half into trading, the scrip was quoting at Rs.1,989 with a gain of 2.88%.
The shares of Reliance Natural Resources, which is part of brother Anil Ambani's group and the other party in the dispute, was ruling lower at Rs.82.40, down 0.66%, data with the stock exchange showed.
The Anil Ambani firm has asked the Supreme Court to dismiss the government's affidavit on the dispute even as the petroleum ministry has suggested that the court treats the pact between the two brothers null and void.