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Reliance Natural falls 7.5 percent

May 4, 2010

Shares in Reliance Natural slipped 7.55 percent on Tuesday and ended as the top loser in the BSE Oil & Gas index. The benchmark index dropped nearly 250 points.

The Supreme Court is expected to rule by next week on a long and high-profile gas pricing dispute between the Ambani brothers.

Reliance Natural shares could jump by almost a third if the ruling goes in its favour, traders say, but could slide 15 percent or more if the verdict goes against the company.

Other stocks in the oil & gas index also ended weak. Shares in Cairn India dropped 2.7 percent, Essar Oil slipped over 3 percent and Reliance Industries ended down 0.2 percent.

HPCL was the only share in the index that closed positive.

Would you invest in shares of Reliance Natural or wait for more clarity on the on-going battle?

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