Karvy Stock Broking Limited has maintained ‘Buy’ rating on Reliance Industries Ltd (RIL) stock with an intraday target of Rs 2265.

According to Karvy, day traders can purchase the stock above Rs 2220 with a strict stop loss of Rs 2200. The stock pricing becomes more attractive, and reach above Rs 2269, if the stock market remains on positive track.

The development plans for eight more gas discoveries has been submitted by the Reliance Industries in its prolific eastern offshore KG-D6 block.

The Reliance’s junior partner in KG-D6, Canada’s Niko Resources, reported, “The discoveries are adjacent to the Dhirubhai 1 and 3 gas fields that are currently under development.”

The production of Dhirubhai-1 and 3 discoveries are expected to commence by the end of September.

On Tuesday, Anil Ambani promoted Reliance Natural Resources (RNRL) had demanded Rs 50,000 crore from MukeshAmbani who is the owner of Reliance Industries (RIL) to scrap the gas sale master agreement (GSMA) signed between the two companies.

At the Bombay High Court in the beginning of company’s argument over the supply of gas from the Krishna-Godavari Basin, RNRL counsel Mr. Mukul Rohatgi said, “Somebody decide that my demands are correct or else calculate and compensate me for the gas I should have got for 17 years.”

In Dadri, the power project was delayed because of the Mukesh Ambani-controlled company hasn’t assured them to supply the gas regularly, RNRL said.  
 

The sources have confirmed that Steven Spielberg and David Geffen would strike a deal with Reliance ADA Group to open a new studio.

According to the deal, the Reliance industries would invest about $500 million in the equity. Dream Works is feeling a need of additional $500 to complete the deal. This financial help can be provided by J.P. Morgan Chase & Co.