Tuesday, April 13, 2010

Reliance Industries

Shares of Reliance Industries ended flat at Rs1125. The company over the weekend announced that it agreed to buy a US$1.7bn stake in natural-gas properties from Atlas Energy Inc. The Atlas Energy deal would see Reliance paying upfront US$339mn for its 40% stake, which will be followed by US$1.36bn out of Atlas’ share of exploration expenditure over a period of seven-and-a-half years.

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