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Reliance Industries gains on seeking $5.4 minimum price for new gas from KG-D6

Reliance Industries is currently trading at Rs. 1229.10, up by 6.60 points or 0.54% from its previous closing of Rs. 1222.50 on the BSE.

The scrip opened at Rs. 1222.00 and has touched a high and low of Rs. 1232.75 and Rs. 1216.50 respectively. So far 113841 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1417.00 on 03-May-2019 and a 52 week low of Rs. 1017.00 on 25-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1243.05 and Rs. 1185.50 respectively. The current market cap of the company is Rs. 778476.03 crore.

The promoters holding in the company stood at 47.29%, while Institutions and Non-Institutions held 36.30% and 16.42% respectively.

Reliance Industries is seeking a minimum price of $5.4 per unit for the natural gas it plans to produce from newer fields in the Bay of Bengal block KG-D6 as it changed parameters to suit government policies.

The company and its partner BP Plc of the UK have sought bids from potential users for the 5 million standard cubic metres per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from second quarter of 2020.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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