Niko can raise stake in KG-D6 block to 13%: RIL

Reliance Industries has said that its partner Niko can raise its stake in KG-D6 and NEC 25 blocks by 30% reports CNBC-TV18 quoting agencies. Niko currently holds 10% in KG-D6 & NEC 25 blocks and they can increase their holding to 13%.

February 23, 2011 / 10:27 IST

Reliance Industries has said that its partner Niko can raise its stake in KG-D6 and NEC 25 blocks by 30% reports CNBC-TV18 quoting Agencies. Niko currently holds 10% in KG-D6 & NEC 25 blocks and they can increase their holding to 13%. The oil and gas major also said that Niko can increase stake in MN-D4 block to 19.5%. It currently holds 15% in MN-D4.

After its landmark deal with BP, which it announced yesterday, experts gave Reliance's USD 7.2 billion deal a thumbs up, and today the brokerage upgrades kicked in. CLSA has put a buy on the stock, with a target price of Rs 1,125 per share.

first published: Feb 22, 2011 08:59 pm

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