RIL and RNRL will drive the Market tomorrow

Dispute between RIL and RNRL over supply of 28 million cubic meter of gas a day to RNRL by RIL will come to an end tomorrow as the supreme court will give verdict on the same , If its good for RIL then the maket will be cool if not the market will go in RED as RIL is heavy weight in the Index stocks but not RNRL.

What is Really the Issue

RNRL is seeking gas from RIL’s KG-D6 gas fields at USD 2.34 per mmBtu, 44 per cent lower than the government set price, for its proposed 7,800 MW power plant at Dadri.But RIL is saying it cant sell gas at a price less than USD 4.20 per mmBtu as set by the government and to customers other than those identified in accordance with the Gas Utilisation Policy (GUP).