Reliance gains after winning offshore blocks in Myanmar - The New Indian Express

Reliance gains after winning offshore blocks in Myanmar

Published: 27th March 2014 11:19 AM

Last Updated: 27th March 2014 11:19 AM

Reliance Industries' (RIL)sharesgained on Thursday afterwinning two offshore blocks (M17 and M18) in Myanmar Offshore Block Bidding Round-2013.

Both the blocks are located offshore in the Moattama basin of Myanmar in water depths upto 3,000 ft and together encompass an area of 27,600 sq. kms. The 2013 offshore blocks bidding round saw participation from global E&P players. In all 36 companies submitted 64 proposals for the 30 offshore blocks on offer. RIL had submitted proposals for three offshore blocks.

Shares of the company are trading at Rs 900.70, up Rs 10.5, or 1.18% at the Bombay Stock Exchange (BSE) on Thursday at 9:53 a.m.The scrip has touched an intra-day high of Rs 901.35 and low of Rs 894.90. The total volume of shares traded at the BSE is 258,189.In the earlier session, the shares climbed 1.31%, or Rs 11.55, at Rs 890.20.Currently, the stock is trading down 2.93% from its 52-week high of Rs 927.90 and above 17.74% over the 52-week low of Rs 765.

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