HC order: RNRL soars, RIL dips

Shares of Reliance Natural Resources Ltd on Friday surged over nine per cent on the Bombay Stock Exchange after the Bombay High Court issued an interim order restraining Reliance Industries from selling natural gas from KG gas field to a third party.

The RNRL scrip opened firm on the BSE on Friday and steadily moved to touch a high of Rs 28.80, a jump of 9.50 per cent over Thursday's close of Rs 26.30. As many as 31.79 lakh shares changed hands on the exchange in early trading this morning.

However, shares of Reliance Industries Ltd dipped 0.59 per cent in early trading on the BSE. The scrip lost as much as Rs 9.60, to touch a low of Rs 1,613.35 over its previous close.

In an interim order on Thursday, Justice A M Khanwilkar restrained RIL from entering into any contract for supplying to a third party the 28 million standard cubic metres of gas per day committed by RIL to RNRL under the 2005 separation agreement between the two brothers.

RIL, in a statement, has said that it would appeal against the order before the division bench of the High Court.