RIL-RNRL dispute: Await more twists in the tale

Chennai: Did the markets over-react to the Bombay High Court judgment in the Reliance Industries - Reliance Natural Resources (RNRL) case? It does appear so, especially in the case of the 24 per cent mark-up in the stock of RNRL.

Yes, the judgment per se is unfavourable to Reliance Industries (RIL) even as it grants RNRL the right to 28 million standard cubic metres a day (mmscmd) of gas from the KG-Basin field of the former. Yet, the fact is that it is still early days and the probability of the judgment being implemented in full does not appear very high. 

Text: Business Line

Image courtesy: AFP

Also see: RNRL wins gas supply dispute with Reliance