RIL gains 1% as Reddy exits from petroleum

Reliance Industries gained almost 1% on Monday as the concerns overprospects of company's KG basin blocks eased after thegovernment shiftedS Jaipal Reddy to the Science and Technology Ministry from Petroleum and Natural Gas Ministerin cabinet reshaffle on Sunday.

This development was positively seen by the market participants on improved outlook on company's operations from KG basin blocks.

The government hasmoved Veerappa Moily from the Ministry of Corporate Affairs to Petroleum and Natural Gas Ministry.

Shares ofthe companyare trading at Rs 806.80, up Rs 7.8, or 0.98% at the Bombay Stock Exchange (BSE) on Monday at 10:13 a.m.The scrip has touched an intra-day high of Rs 811.50 and low of Rs 803.60. The total volume of shares traded at the BSE is 69,601.In the earlier session, the shares lost 1.39%, or Rs 11.3, at Rs 799. Currently, the stock is trading down 10.55% from its 52-week high of Rs 902 and above 20.24% over the 52-week low of Rs 671.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 803.20 (4.20) (0.52) 1 Month 830.20 (31.20) (3.76) 3 Months 720.40 78.60 10.91 6 Months 745.20 53.80 7.22 1 Year 898.00 (99.00) (11.02) Note: Based on previous day closing price.