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Shares of Reliance Industries Ltd will be tracked actively this week following two events. First, the Union Government on Friday notified the new gas pricing formula, which will double its rate to $8.4 a unit from April for all domestic output, giving a huge relief to the exploration industry, particularly to RIL. Another could be the Securities Appellate Tribunal order, which is expected anytime soon, on an insider trading case related to Reliance Petroleum’s merger with RIL. The SAT last week concluded the hearing, and reserved its verdict on the case filed by RIL against SEBI’s rejection of the firm’s consent application for alleged insider-trading. Earlier, SAT had indicated it wanted to dispose of this long-pending case quickly.
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