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Share Price: 503.70

Bid: 503.80

Ask: 503.90

Change: -6.70 (-1.31%)

Spread: 0.10 (0.02%)

Open: 506.40

High: 515.30

Low: 499.60

Prev. Close: 510.40

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India's Reliance shares rally on plans to pursue gas price arbitration

Mon, 12th May 2014 03:58

MUMBAI, May 12 (Reuters) - Reliance Industries Ltd gained asmuch as 4.2 percent to its highest since April 2011 after thecompany and its partners in a gas block said on Saturday theywere taking the Indian government to arbitration seekingimplementation of higher gas prices.

Reliance and its partners BP Plc and NikoResources issued the notice of arbitration to thegovernment on May 9, the three companies said in a jointstatement.

Shares in Reliance also tracked a broad-based rally thatsent both the benchmark BSE index and NSE index to record highs. (Reporting by Indulal PM; Editing by Rafael Nam)

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