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Reliance Industries' Ltd (RIL) scrip closed on a high on the BSE on Friday. The scrip closed 1.49 per cent higher at Rs 873.60.
However, the London Stock Exchange (LSE) did not respond positively to the news. BP's scrip on the LSE closed was trading 0.02 per cent higher at 8.30 p.m. IST at £470.1.
Similarly, Reliance GDR was up 0.28 per cent at $39.19.
According to analysts the stock's rise in the domestic market was due to the expectation amongst traders that the Government would clear BP's purchase of 30 per cent stake in 23 out of 29 blocks of RIL in the Krishna Godavari–D6 basin.
“There was an expectation that the deal would be cleared as the Cabinet meeting was shifted to Friday.
“The scrip movement was also helped by the fact that RIL's financial results are about to come out on Monday,” said an analyst who did not wish to be quoted on individual stocks.
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