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RIL scrip fell 2 per cent today following anti-corruption activist Arvind Kejriwal’s accusations that the company was pressurising the Government to increase the prices of gas although the energy major has denied the charges.
The scrip opened on a weak note and as the trade progressed, it fell 2 per cent to Rs 789.10 on the BSE. On the NSE, the stock was down 2 per cent to Rs 788.70.
Currently, the company has a market capitalisation of Rs 2,58,874 crore.
“The scrip fall in a knee-jerk reaction to Kejriwal’s comments,” CNI Research CMD Kishore Ostwal said.
Reliance Industries Chairman Mukesh Ambani had yesterday came under attack from India Against Corruption (IAC) which alleged that the UPA and the previous NDA governments had favoured his company by giving contract on gas exploration in KG Basin and concessions at a huge cost to the exchequer.
Activists Arvind Kejriwal and Prashant Bhushan alleged that Reliance was “blackmailing” the Government to increase the prices of gas by “almost stopping” the production and indulging in “hoarding like petty traders’’.
RIL, however, refuted the charges saying the allegations were at the “behest of vested interests’’.
“The statements made by IAC...are devoid of any truth or substance whatsoever and are denied,” the company had said in a statement yesterday.
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