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Reliance Industries surges on KG-D6 gas discovery

Reliance Industries surges

Reliance Industries KG-D6's control and raiser platform is seen off the Bay of Bengal in this undated handout photo. REUTERS-Reliance Industries-Handout

Shares in Reliance Industries(RELI.NS) rose more than 4 percent in on Monday after the conglomerate and its partners said they had made a significant gas discovery in the KG-D6 block off India’s east coast.

A woman walks past a poster of Reliance Industries installed outside the venue of the company's annual general meeting in Mumbai June 7, 2012. REUTERS-Vivek Prakash-Files

Reliance, along with partners Niko Resources Ltd and BP Plc, said late on Friday the discovery is expected to add to the gas resources in the block, without revealing potential reserves.

At 3.04 p.m, shares were up 5.77 percent at 831.85 rupees.

[source:reuters]

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