Reliance Industries stock closes lower as govt sends $1.55 bn compensation notice

 BT Online        Last Updated: November 4, 2016  | 16:59 IST
Reliance Industries stock closes lower as govt sends $1.55 bn compensation notice

The Reliance Industries stock fell on Friday amid reports that the government has sought $1.55 billion from Reliance Industries and its partners for drawing natural gas belonging to state-owned ONGC in the KG basin over the last seven years.

The stock opened at Rs 1,021 level, hit an intraday high of Rs 1,027 at 10:39 am and intraday low of Rs 1,000 at around 2:36 pm and recovered losses in the last hour of trade to close 1.92 per cent or 19 points lower at Rs 1,005 level on the BSE.

The Oil Ministry has sent a notice to RIL seeking $1.55 billion compensation, sources privy to the development said.

The stock of Sensex heavyweight and often called the sleeping gaint of the market hits its seven-year high of Rs 1,129 on September 26, 2016.


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