Bourses pull up RIL, RNRL over media reports

MUMBAI: Mukesh and Anil Ambani groups on Wednesday came under the scanner of stock exchanges after reports that Reliance Industries may buy out Reliance Natural Resources Ltd to settle differences over a gas supply deal.

In their clarification to the stock exchanges, the two companies said they do not comment on speculation.

"It is not the policy of the company to comment on speculation or rumours," RNRL said in a filing with the stock exchanges.

In a similar statement, RIL said, "The company does not comment on speculative media reports."

"If any information is to be disseminated to the market pace, the company would intimate to the stock exchanges and media," RIL said.

Shares of RIL closed at Rs 2786.30 each, down 1.96 per cent. RNRL scrip ended the day at Rs 156.45, up 1.92 per cent.     

RNRL said, "Developments, if any, which concern stake holders of the company, will be intimated in due course and at appropriate time."
   
The two groups were last month asked by the Bombay High Court to rework their gas supply agreement within four months. RNRL had moved the high court over implementation of the agreement, under which RIL was to supply gas from Krishna-Godavari fields to RNRL.