Reliance firms in focus on settlement buzz

DALAL STREET SPIKES

Reliance group stocks were in the limelight in anticipation of a settlement soon. Reliance Industries hit a new all-time high of Rs 605.55 on the National Stock Exchange (NSE) before closing at Rs 600.25.

On the BSE, the stock closed at Rs 600.85 with volumes of more than 35.9 lakh shares changing hands. Brokers said that Reliance Industries is witnessing renewed buying interest from investors following media reports that the Ambani brothers are believed to have finally zeroed in on the date for announcing the peace formula.

Reports further suggest that the settlement would be announced on July 6, the third death anniversary of the group's founder chairman Dhirubhai Ambani. Reliance GDR was up 0.22 per cent to $27.75 with volume of 254,341 GDRs in early morning trades on the London Stock Exchange.

Among other group companies, Reliance Energy ended up 0.53 per cent to Rs 589.85. Reliance Capital was down 1.82 per cent to Rs 235.75, Reliance Infrastructure was down 1.67 per cent to Rs 138.40, while IPCL stock ended marginally higher at Rs 161.25, up 0.94 per cent.