Reliance Industries today rose by over one per cent on the Bombay Stock Exchange after the company said it will buy a 60 per cent stake in a shale-gas venture in the US for $392 million.
Shares of Mukesh Ambani-led Reliance Industries (RIL) jumped 1.19 per cent to touch an early high of Rs 1,028 on BSE. The scrip was quoted at Rs 1,018, up 0.21 per cent at 1037 hrs.
Meanwhile, the scrip was quoted at Rs 1,016.35, up 0.03 per cent, on the National Stock Exchange. On volume front, over 10 lakh shares of RIL changed hands on the two bourses.
The broader market Sensex was also tradinghigher by 31.92 points at 18,249.36 points.
RIL today said it will pay $340 million in cash and $52 million in drilling cost to Carrizo Oil and Gas Inc and its partners for a 60 per cent stake in the Marcellus shale-gas areas of central and northeast Pennsylvania.
This is RIL's third shale gas asset buyout in the US.
RIL had in April bought a 40 per cent stake in Atlas Energy Inc's Marcellus Shale acreage for $1.7 billion. In June, it had agreed to buy a 45 per cent stake in Pioneer Natural Resources Co's - Eagle Ford shale natural gas asset in Texas for about $1.36 billion.
