RIL trades with strength on BSE

Reliance Industries (RIL) is currently trading at Rs. 959.00, up by 18.70 points or 1.99 % from its previous closing of Rs. 940.30 on the BSE. The scrip opened at Rs. 945.00 and has touched a high and low of Rs. 959.75 and Rs. 943.75 respectively. So far 77521 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 988.90 on 22-Apr-2014 and a 52 week low of Rs. 765.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 976.90 and Rs. 938.35 respectively. The current market cap of the company is Rs. 309877.08 crore. The promoters holding in the company stood at 45.30%, while Institutions and Non-Institutions held 29.86% and 21.41% respectively. In a view to avoid irreparable loss to all parties, including the government, Reliance Industries (RIL) has urged Oil Ministry to announce a new natural gas price soon after polling ends on May 12. While a new formula for pricing of all domestically produced natural gas was notified on January 10 and published in Gazettee on January 17, the Election Commission last month asked the government to defer its implementation till general elections are completed. The new pricing formula, that almost doubles the price of natural gas to about $ 8.34 per million British thermal unit, was to be implemented from April 1 but following the directive of the poll watchdog, was put in abeyance till model code of conduct for elections is in place.