Reliance Industries rose 0.53% to Rs 803.45 at 11:47 IST on BSE after the company refuted allegations made by Aam Aadmi Party leader Prashant Bhushan against the firm.
The company made the announcement after market hours on Friday, 28 February 2014.
Meanwhile, the BSE Sensex was down 8.85 points, or 0.04%, to 21,111.27.
On BSE, so far 1.15 lakh shares were traded in the counter, compared with an average volume of 2.48 lakh shares in the past one quarter.
Trading in the counter was volatile. The stock rose 0.84% at the day's high of Rs 806. It fell 0.16% at the day's low of Rs 798. The stock hit a 52-week high of Rs 927.90 on 19 July 2013. The stock hit a 52-week low of Rs 765 on 28 March 2013.
The stock had underperformed the market over the past one month till 28 February 2014, sliding 5.50% compared with the Sensex's 2.11% rise. The scrip had also underperformed the market in past one quarter, falling 5.78% as against Sensex's 2.85% rise.
The large-cap company has an equity capital of Rs 3231.90 crore. Face value per share is Rs 10.
Reliance Industries (RIL) said that a section of the press has regurgitated the false and defamatory allegations made against the company on Thursday, 27 February 2014. This has inflicted unacceptable controversy and disrepute upon RIL across million of stakeholders in the world, RIL said in a statement.
RIL said that the investments made by Biometrix in Indian companies were from loans raised from Singapore Branch of ICICI Bank. Mechanical replay of allegation and insinuation via youtube and/or e-papers has a global imprint, the company said in a statement. Carrying such defamatory content, with or without carrying a few lines of RIL's version, is unacceptable, it added.
The disbursement notices issued by Singapore Branch of ICICI Bank to Biometrix cover disbursement of the entire amount invested by Biometrix in Indian entities, RIL said in a statement.
RIL said that false and baseless allegations made by Mr Bhushan against the company have been made by vested interests in the proceedings filed in November 2012 in the Delhi High Court. These allegations have been appropriately responded to and the disbursement notices of ICICI Bank have been placed on record, RIL said in a statement.
Reporting Mr Bhushan's selective leaks of old information already residing in judicial proceedings is misleading global public at large and defaming and maligning RIL's corporate reputation, the company said in a statement.
RIL said that investments made by Biometrix into Indian entities have been scrutinized and investigated by Regulatory Authorities. RIL said it has participated and fully co-operated in the investigation and the Regulatory Authorities have been apprised of the true and correct facts.
RIL said that sections of the media are requested to recognize the global implication of their output and not fall for Mr Bhushan's machinations which are purely for his collateral and political gains.
On 27 February 2014, RIL denied allegations that the foreign direct investment (FDI) in certain Indian companies, by Biometrix, a Singapore-based company, are laundered monies invested in India. These false and baseless allegations are being repeatedly made in the media and-in-judicial-proceedings and have been already been responded to, RIL said in a statement. The allegations made by Prashant Bhushan are highly defamatory, false, irresponsible and devoid of any merit or substance whatsoever. These false allegations have been repeatedly made and their regurgitation in the media is fuelling an orchestrated, politically-motivated campaign against the company, RIL added.
On 25 February 2014., RIL had strongly denied all allegations made by Aam Aadmi Party (AAP) against RIL and Mukesh Ambani in their public meeting recently. As stated earlier it is being reiterated that neither RIL nor Mukesh Ambani have or had any illegitimate accounts anywhere in the world, the company said in a statement.
RIL said it has business interests in several countries with turnover of thousands of crore in rupees. As a part of their normal business, these international subsidiaries of RIL deal with several global banks. These accounts are fully compliant with all regulations and are disclosed in their appropriate jurisdictions and in India. The continued tirade of baseless allegations being made by AAP against the company appears to be instigated by vested interests, the company said. RIL had issued this clarification after market hours on Tuesday, 25 February 2014.
RIL's net profit rose 0.2% to Rs 5511 crore on 10.3% growth in net sales to Rs 103521 crore in Q3 December 2013 over Q3 December 2012.
RIL's gross refining margin (GRM) declined to $7.6 per barrel from $7.7 per barrel in Q2 September 2013 and $9.6 per barrel in Q3 December 2012.
RIL's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail and broadband services.
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