Reliance Industries Ltd reported a 62 per cent increase in net profit for the fourth quarter ended March and declared a dividend of Rs 7.5 a share, against the Rs 5.25 that it declared last year. The higher profits could not, however, prevent the stocks from falling 1.48 per cent on the BSE to Rs 539.10 a share compared to the previous close of Rs 547.20.
Reliance Industries is important to the growth of the economy. While the government has cleared natural gas production at the K-G fields, production is yet to commence. It is hoped that there will be a settlement of the conflict within the Ambani family soon and the government will mediate and expedite the process.
A. Jacob Sahayam
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