RIL falls after Kejriwal turns fire on Mukesh Ambani
01st November 2012 10:18 AM
Mukesh Ambani's Reliance Industries fell on Thursday after activist-turned-politician Arvind Kejriwal accused the Prime Minister of selling out the country to allow windfall profits to Mukesh Ambani's RIL.
'In the Nira Radia tapes, Ranjan Bhattacharya (Vajpayee's son in law) is heard telling Nira that Mukesh Ambani told him,''Congress to ab apni dukaan hai.'' Facts show that both Congress and BJP are in his pocket,' claimed India Against Corruption (IAC).
Shares ofthe companyare trading at Rs 793.15, down Rs 12.1, or 1.50% at the Bombay Stock Exchange (BSE) on Thursday at 9:39 a.m. Reliance Industries (RIL) has the contract to extract oil from KG Basin. Under an agreement of 2009 with the government, they are supposed to sell gas at USD 4.2 per mmBTU upto Mar. 31, 2014.
"Midway now, RIL is demanding that the price be increased to USD 14.2 per mmBTU. Jaipal Reddy resisted that and he was thrown out," IAC said in its statement. The scrip has touched an intra-day high of Rs 799.05 and low of Rs 789.10. The total volume of shares traded at the BSE is 130,790.In the earlier session, the shares climbed 0.27%, or Rs 2.15, at Rs 805.25. Currently, the stock is trading down 12.07% from its 52-week high of Rs 902.00 and above 18.2% over the 52-week low of Rs 671.00.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 810.30 (5.05) (0.62) 1 Month 834.55 (29.30) (3.51) 3 Months 742.90 62.35 8.39 6 Months 726.45 78.80 10.85 1 Year 871.45 (66.20) (7.60) Note: Based on previous day closing price.
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