RIL Trades Under Pressure Post Partnership With BP

Reliance Industries Limited opened under pressure on Friday's morning trade. It was the most active stock by value with traded quantity of around 30,25,597 shares and traded value of Rs 417 cr on NSE as of 1017 hours. The stock has witnessed an addition of around 4% in open interest.

Reliance Industries Limited (RIL) and BP on Thursday announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout India’s energy sector.

Mukesh Ambani commented: “This strategic partnership not only strengthens the relationship between two global energy leaders but is also in line with and supports the forward-looking policies and vision of the Government of India.”

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About Suhani Varma