Mumbai, May 07: Reliance Natural Resources (RNRL) went into a free fall today, plunging over 19 per cent, after the Supreme Court ruled against the division of gas under the Ambani family MoU, leading the Reliance Industries counter to extend gains to over five per cent.
Shares of RNRL, which had gained in the early trade, tanked 19.16 per cent to a 52-week low of Rs 55.25, after the Supreme Court rejected the division of gas under the Ambani family MoU and said that it was the government’s right to decide the price and utilisation of the fuel, which is a national asset.
RNRL registered the biggest monthly gain in over a month in April on anticipation of the court verdict.
Country’s most valued firm Reliance Industries, gained over Rs 49 a share or 4.86 per cent to a high of Rs 1,060. The company’s current market capitalisation is Rs 3.
–PTI