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Subsidiary of Reliance Industries (11)   17-May-08 15:58Tracked by (0)  
Posted by:   vkk43 on ( 17-May-08 15:58 )
Price : BSE: Rs 186.85 ( -0.03 % ), NSE: Rs. 187.20 ( 0.08 % )
I quote from Page No. 88 of Annual reports of Reliance Industries Ltd. in Directors Report -
Quote
Exceptional item of Rs.4733 crore ($1.2 billion) represents gains primarily arising out of transactions concerning shares of Reliance Petroleum Ltd., a subsidiary of the Company.
Unquote
Now it is clear that Reliance Petroleum is a subsidiary of Reliance Industries Ltd. since it is mentioned in the Balance Sheet of the company itself.
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