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RIL tanks on the buzz of Niko Resources reporting 51% drop in KG D6 block

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

21 Jun 2012 Evaluate

Reliance Industries is currently trading at Rs. 715.10, down by 22.50 points or 3.05% from its previous closing of Rs. 737.60 on the BSE.

The scrip opened at Rs. 734.95 and has touched a high and low of Rs. 734.95 and Rs. 711.85 respectively. So far 418877 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 906.00 on 01-Jul-2011 and a 52 week low of Rs. 671.00 on 08-May-2012.

Last one week high and low of the scrip stood at Rs. 742.50 and Rs. 711.85 respectively. The current market cap of the company is Rs. 231443.12 crore.

The promoters holding in the company stood at 44.75% while Institutions and Non-Institutions held 28.26% and 23.54% respectively.

In a big jolt to the Mukesh Ambani firm, Reliance Industries (RIL), Canadian oil and gas producer Niko Resources has reported that total proved plus probable natural gas reserves at the company’s KG D6 block in India have slumped by almost 51% to 377 billion cubic feet equivalent (bcfe), as mentioned in some media reports.

The D6 block contributed 79% to Niko's total production last year. Natural gas production at the block has been declining as fewer wells were drilled than planned and some wells ceased to produce due to the entry of sand or water. Niko has a 10% stake in the D6 block, which is estimated to hold more than 9 trillion cubic feet (tcf) of gas.

Earlier in May, it was reported that billionaire Mukesh Ambani owned company would submit a new plan that envisages an integrated development approach for the entire problematic D-6 block. The new development plan, which is expected to be ready by the last quarter of this fiscal, would take at least two years to arrest the ever dwindling gas production of D-6 block, after the plan gets mandated regulatory approval.

Reliance Industries Share Price

1365.10 21.65 (1.61%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1365.10
Indian Oil Corp.	145.85
BPCL	312.05
HPCL	370.95
MRPL	183.20
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RIL tanks on the buzz of Niko Resources reporting 51% drop in KG D6 block

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