Asking for a SIT probe instruction by the Supreme Court is very much part of the Prashant Bhushan's prier before the Supreme Court, something he reiterated verbally to the Supreme Court.
The supreme court has adjourned the Reliance Industries ' gas pricing case till April first. Meanwhile, Counsel Prashant Bhushan has asked the Supreme Court to order for SIT probe into the conduct of Reliance Industries and the government.
Asking for a SIT probe instruction by the Supreme Court is very much part of the Prashant Bhushan's prier before the Supreme Court, something he reiterated verbally to the Supreme Court. Once again Prashant Bhushan is building a case of how he believes that there is an alleged collusion between Reliance Industries and the government, whether it is to get all kind of approvals over development of the KG-D6 block or for the pricing for that matter, says CNBC-TV18's Nayantara Rai.
Prashant Bhusuhan stated that the cost of gas production is less than USD 0.90 a unit. When a company like BP actually came and invested USD 7.2 billion (Rs 33000 crore) at that time when gas prices were prevailing at USD 4.2 while BP was oblivion that prices would go up and it had assumed there would be a profit of Rs 1 lakh crore.
In the interest of public, Prashant Bhushan ponders on what basis is the government saying that it is willing to double gas prices to USD 8?
Also read: 'Disastrous for the nation if gas price not raised at all'
Reliance stock price
On March 26, 2014, Reliance Industries closed at Rs 890.20, up Rs 11.55, or 1.31 percent. The 52-week high of the share was Rs 927.90 and the 52-week low was Rs 765.00.
The company's trailing 12-month (TTM) EPS was at Rs 67.89 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 13.11. The latest book value of the company is Rs 556.94 per share. At current value, the price-to-book value of the company is 1.60.
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