Reliance Inds in limelight

Reliance Industries is very much in the limelight today. The stock which had closed at Rs.856.90 on Friday, opened today at Rs.865.10 and is currently at Rs.876.35, up 2.5%.

The stock is in the limelight after the Union Govt on Friday issued a new gas pricing formula, which stands doubled at $8.4/unit from the present rate, for all domestic output. This will come as a huge relief for RIL. The new prices will be effective 1^st April. And for a change, there is a level playing field wherein even the PSUs nominated will get gas at the same new price. This new price will be applicable for 5 years and is applicable to only KG-D6, post bank guarantee.