India's Reliance Posts Profit Rise, Plans To Invest $9B

Agarwal said the company and its Eagle Ford joint venture partner, Pioneer Natural Resources Co, were reviewing "the best way to think about our JV going forward".

Last week, Reuters reported that Reliance was seeking up to $4.5 billion from the sale of its 45 percent stake in the Eagle Ford joint venture.

Shares of India's third-largest company by market value fell 0.3 percent ahead of the results versus a 0.33 percent gain in the benchmark index. The stock is up about 6 percent this year compared with the benchmark's 23 percent rise.

(1 US dollar = 60.9950 Indian rupee)

(Additional reporting by Nivedita Bhattacharjee; Editing by Jane Merriman and Jane Baird)


View Full Article


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.