RIL - RNRL

A day after RNRL (Anil Ambani) petitioned the Supreme Court seeking modification in the Bombay High Court order, RIL(Mukesh Ambani) moved the apex court challenging the same judgement that asked it to supply 28 MMSCMD gas to RNRL at USD 2.34 per mmbtu. It alleged that the high court erred in deciding the three terms as to quantity, tenure and price of gas supply to power plants of RNRL affiliate.

The High Court on June 15 had asked RIL to honour a 2005 family agreement to supply 28 million cubic meters per day of gas from its Krishna-Godavari basin fields to RNRL at USD 2.34 per mmBtu for 17 years from the date of setting up of the Dadri power plant.

RIIL - RIL merger was a rumor

In the last week market buzz indicated that RIIL and RIL may merge in short future.

On Sunday, Reliance Industrial Infrastructure Ltd(RIIL) announced that there are no plans to merge with Reliance Industries or any other company.

But during last 7 sessions, share price of RIIL surged to 819.50 on Apr 09, 2009 (last trading session), gaining 189% from 283.75 on Mar 30, 2009.

The company, the spokesperson said, has already communicated its concern to the stock exchanges and the Sebi.

The news were published by some newspaper which misled investors and may lose huge money now.

News in media are used for misguiding mass and thus related persons / companies earn huge profits at cost of individual investors' losses.

Reliance

Reliance Industries Ltd:

Address: Reliance Industries Ltd.,
Maker Chambers - IV,
Nariman Point, Mumbai - 400 021, Maharashtra India.

Tel. : 91-22-22785000,22842384,22842929,22826070, 22785211

Fax : 91-22-22042268,22852214, 22785110

BSE: 500325

NSE: RELIANCE

Bloomberg: RIL@IN

Reuters: RELI.BO

Index: SENSEX, BSE Oil & Gas

Sector: Diversified, Diversified - Mega

Market Lot: 1, Face Value - Rs. 10

Website: http://www.ril.com/

The Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is India's largest private sector enterprise, with businesses in the energy and materials value chain. Group's annual revenues are in excess of US$ 34 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India.

Backward vertical integration has been the cornerstone of the evolution and growth of Reliance. Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical integration - in polyester, fibre intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production - to be fully integrated along the materials and energy value chain.

The Group's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail and spacial economic zones.

Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fiber producer in the world and among the top five to ten producers in the world in major petrochemical products.

The Group exports products in excess of US$ 20 billion to 108 countries in the world. Major Group Companies are Reliance Industries Limited (including main subsidiaries Reliance Petroleum Limited and Reliance Retail Limited) and Reliance Industrial Infrastructure Limited.

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