Shareholders were upset with RIL's increasing focus on non-core areas and its reluctance to pay dividends
Gas prices have fallen to $10 per million British thermal unit. But the fate of the power project, run by Ratnagiri Gas and Power Pvt Ltd, will hang in balance till the committee takes a decision on gas pooling, reduction in certain taxes and providing per unit subsidy.
The RIL stock has halved from an all-time high of Rs 1,626 made (intra-day) on January 15, 2008, to on Wednesday's closing figure of Rs 800.55.
The company is looking to invest more than $3 bn over the next three years.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
A bench headed by Chief Justice P Sathasivam sought response from CBI on the petition filed by Civil society members including former Cabinet Secretary T S R Subramanian and ex-Naval chief Admiral L Ramdas seeking probe by the agency in the alleged 'collusion between RIL and the political establishment'.
Govt depts, banks prone to information leakage.
The company will wait for sizeable user base for better valuation.
Affected firms note practical problems in getting discoms, consumers to pay for costlier supply; viability shadow on investments
A day after deciding to nearly double natural gas prices to $8, Finance Minister P Chidambaram on Friday hinted that power and fertiliser units may get gas at subsidised rates to keep electricity and urea costs down.
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The Management Committee headed by Director General of Hydrocarbons R N Choubey refused to take a view on appointment of renowned reservoir consultants Ryder Scott, DeGolyer and MacNaughton, Gaffney, Cline & Associates or Netherland, Sewell & Associates to ascertain if RIL's claims of fall in reserves are actually true or the firm was hoarding gas by producing less, official sources said.
Industry demands the basic customs duty on all steel imports to be raised to 25%
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.
Rajneesh Gupta's fascinating look at the routes RCB and Sunrisers Hyderabad took to the IPL 9 final.
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