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Markets rise 1.5%; Ambanis’ cos rally

Markets rise 1.5%; Ambanis’ cos rally
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First Published: Mon, May 24 2010. 08 44 AM IST
Updated: Mon, May 24 2010. 08 44 AM IST
Mumbai: Indian shares rose 1.5% early on Monday, with Reliance Industries leading the rise after the Ambani brothers made a reconciliation move over the weekend.
Both groups said they aim to reach a conclusion soon for a gas supply agreement between Reliance Industries and Reliance Natural Resources that had been at the heart of their dispute.
At 9:01am, the 30-share BSE index was up 1.5% at 16,685.33 points, with 25 components advancing.
Shares in energy major Reliance Industries, controlled by Mukesh Ambani, rallied more than 5%. Anil Ambani led Reliance Infrastructure and Reliance Communications were up 5.3 and 7.4% respectively.
The 50-share NSE index was up 1.4 % at 5,000.90.
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First Published: Mon, May 24 2010. 08 44 AM IST
More Topics: India | Stocks | Markets | BSE | NSE |