Shares of Reliance Industries declined by over 7% to Rs1207 after reports stated that the company’s gas and new refinery projects may miss deadline; likely to be commissioned in January 2009.
There were also reports stating that the Andhra Pradesh government would restructure the equity pattern of the Krishna-Godavari Gas Network to include Reliance Gas Corporation, a subsidiary of Reliance Industries, as a majority partner of the consortium. The scrip has touched an intra-day high of Rs1288 and a low of Rs1194 and recorded volumes of over 21,00,000 shares on BSE.
