The company made the announcement during trading hours today, 5 December 2012.
Meanwhile, the BSE Sensex was up 50.18 points or 0.26% at 19,398.30.
On BSE, 1.90 lakh shares were traded in the counter as against average daily volume of 4.53 lakh shares in the past one quarter.
The stock hit a high of Rs 830.60 and a low of Rs 820.50 so far during the day. The stock had hit a 52-week high of Rs 881 on 17 September 2012. The stock had hit a 52-week low of Rs 671 on 8 May 2012.
The stock had underperformed the market over the past one month till 4 December 2012, gaining 1.96% compared with the Sensex's 3.16% rise. The scrip had also underperformed the market in past one quarter, rising 5.8% as against Sensex's 10.94% surge.
The large-cap company has equity capital of Rs 3228.52 crore. Face value per share is Rs 10.
Reliance Industries (RIL) said that its wholly owned subsidiary, Reliance Exploration and Production DMCC, has signed the completion documents for divestment of its 25% working interest in the Production Sharing Contract (PSC) for Yemen Block-9 with Medco Yemen Malik, a wholly owned subsidiary of PT Medco Energi Internasional Tbk of Indonesia. The effective economic date of the transaction is 1 January 2012 and the transaction has been approved by the Ministry of Oil and Minerals of Yemen, RIL said in a statement.
Block 9 is an exploration and production block located in the province of Hadramaut, Republic of Yemen, about 350 kilometers (KM) north-east of the Yemeni capital, Sana'a. The Block, which is located within the Sayun-Masila Basin, has an area of 2,234 square kilometers, in which some of its area has previously been explored. On 25 August 2005, the Government of Yemen granted the construction license for this Block for the period of 20 years. The license also states that the holders of participating interest of this block (the contractor) has the right to negotiate for an extension of another 5 years after 2025.
Meanwhile, RIL has bought back 4.62 crore shares for about of Rs 3357.27 crore till 27 November 2012 under its ongoing share buyback program. RIL has set maximum buyback price of Rs 870 per share. The company has set aside Rs 10440 crore for share buyback. The buyback program opened on 1 February 2012 and closes on 19 January 2013.
RIL's net profit fell 5.7% to Rs 5376 crore on 15% growth in net sales to Rs 90335 crore in Q2 September 2012 over Q2 September 2011.
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 infotel. RIL is the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products.
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