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Reliance rises on patch-up hopes

October 12, 2009

Shares in Reliance Industries ended 3.1 percent higher on Monday in the broader market which closed 2.3 percent up.

The stock reached an intra-day high of over 4 percent before closing at 2167 rupees.BC-ENERGY-INDIA-RELIANCE

Reliance Industries which carries maximum weightage in the 30-share Sensitive Index ended with a volume of 1.59 million on day.

The stock gained 3.3 percent on the NSE.

Reliance stocks rose on optimism on hopes for a resolution after Anil Ambani on Sunday made a public call to end the feud with his elder brother ahead of a court hearing next week in their ongoing battle over gas supplies.

Shares in Reliance Natural Resources ended 5.3 percent higher at 87.4 rupees on the Bombay Stock Exchange on Monday.

Do you think resolving the dispute between the two brothers will help both companies reach new highs?

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