RIL-RNRL Latest News | RIL-RNRL Case Updates News
The Supreme Court verdict in the gas row case between Reliance Industries (RIL) and Reliance Natural Resources Limited (RNRL) expected this week may set the tone for benchmark indices that have been caught in a tight range for a while.
The verdict on one of the fiercest corporate battle between the Ambani brothers, Mukesh Ambani’s Reliance Industries (RIL) and Anil Ambani’s Reliance Natural Resources (RNRL) over the supply of gas from the Krishna-Godavari basin is out.
The clear winner in the court today however, is the Government of India. Its production sharing contract overwrites all other contractual obligations. All subject oil prices that they renegotiate now will be subject to government approval. The fact that the government has already rejected RNRL’s $2.34 earlier on comes back into foray once again. Government will not give RNRL gas at any point lower than $4.2 at which it is selling to all other buyers – about 35 of them as we presently talked.
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The decision which is taken by the board, is not in favour of investors and shareholders.This is mere a black marketing.shareholders feel cheated here. I really dont understand on what basis the 1:4 ratio has been decided while the 1:3 ratio would be the ideal one.I strongly recommend not to buy any Relaince stock because these stocks are not investors and equity share holders friendly are operated by some powerful operators and speculators supported by companies.A investor should be very careful by these stocks.They are corporate criminals and are ruining life of mellions of investors of india.