RNRL leads the gainers of group ‘A’ on BSE

Reliance Natural Resources (RNRL) is currently trading at Rs. 54.40, up by 9.90 points or 22.25% from its previous closing of Rs. 44.50 on the BSE.

The scrip opened at Rs. 47.00 and has touched a high and low of Rs. 56.35 and Rs. 47.00 respectively. So far 21753393 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 112.25 on 15-Jun-2009 and a 52 week low of Rs. 42.50 on 21-May-2010.

Last one week high and low of the scrip stood at Rs. 48.40 and Rs. 42.50 respectively. The current market cap of the company is Rs. 8908.73 crore.

The promoters holding in the company stood at 54.84% while Institutions and Non-Institutions held 8.36% and 36.49% respectively.

The other top gainers of BSE group ‘A’ were Reliance Communications up by 10.94 %, Reliance Power up by 7.86%, Relaince Infrastructure  up by 6.38 %, Shree Renuka Sugar up by 5.65%.

Reliance Industries (RIL), led by Mukesh Ambani and Reliance ADA group companies, Reliance Communications ,Reliance Infrastructure, Reliance Natural Resources(RNRL), Relaince capital led by Anil Ambani have approved and signed an agreement cancelling all the existing non-compete arrangements entered into between  the two companies in January 2006, pursuant to the scheme of reorganizations of the Reliance group and entered into a new simpler, non-compete arrangement with respect to only gas based power generation. The agreement was later unanimously approved by boards of RIL and Reliance ADA Group companies.

RIL has agreed not to enter into gas based power generation business for the period up to March 31, 2022. An appropriate exception has been made in respect of RIL captive based power plants.

The cancellation of the existing non-compete agreement will provide enhanced operational and financial flexibility to both groups, and enter greater ability to participate in high growth sectors of the Indian economy, Such as oil and gas, petrochemicals, telecommunications, power and financial services. Further, RIL and RNRL will expeditiously negotiate gas supply arrangements in accordance with the orders of the Supreme Court of India.