Reliance Industries (RIL) is trading down around 2% at Rs 906, its lowest since February 14, 2011, on reports that the oil ministry and its technical arm DGH ordered the company to drill two wells by next month and another nine by fiscal end to raise gas output.
“Dhirubhai-1 and 3 fields in the eastern offshore KG-D6 block are producing 41-42 million standard cubic meters per day of gas as opposed to 61.88 mmscmd planned, due to a fall in reservoir pressure and water ingress in wells,” the newspaper report suggests.
The stock opened at Rs 920 and hit a low of Rs 901 on the NSE. A combined 2.04 million shares have changed hands on the counter till 1054 hours.
