RIL up 4% on Marcellus deal completion; m-cap swells Rs 11k cr

Shares of the Mukesh Ambani-led RIL settled at Rs 992.20, a gain of 3.58 per cent. During the day, the stock climbed to an intra-day high of Rs 994.80, up 3.84 per cent.
The company witnessed an upsurge of a whopping Rs 11,135.79 crore in its market valuation to Rs 3,24,555 crore today. RIL's m-cap stood at Rs 3,13,491.21 crore in the last trading session.

Yesterday, RIL had announced the completion of its deal to acquire a 60 per cent stake in the Marcellus Shale gas asset in the United States for USD 392 million.
"The stock was on an uproar boosted by the deal completion with Marcellus, also the overall market sentiment lifted the momentum of the stock. The counter saw a lot of value-buying today," Ashika Brokers Research Head Paras Bothra said.
On a similar note, the Mumbai-based firm closed at Rs 992.40, up 3.53 per cent on the National Stock Exchange.
In terms of volume, over 74 lakh shares of the country's most valued firm changed hands on the two bourses.

On August 5, Reliance had announced that it will buy its third shale gas asset in the United States. Its subsidiary, Reliance Marcellus II Llc, had signed a definitive transaction agreement to enter into a joint venture with US-based Carrizo Oil and Gas for development of the Marcellus Shale asset.
In a statement issued on Saturday, Carrizo said it has "closed its previously announced joint venture transaction in the Marcellus Shale with a subsidiary of Reliance Industries".
"The new Carrizo-Reliance joint venture agreement covers approximately 1,04,400 gross acres in Northern and Central Pennsylvania. Under the terms of the agreement, Carrizo retains a 40 per cent working interest in the acreage and Reliance owns 60 per cent," the statement said.

The oil and gas index of the BSE too ended on a robust note up by 261.36 points at 10,436.47, while the broader market Sensex ended the session with a handsome gain of 408.67 points at 19,208.33.

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