RIL shares shrug off Kejriwal's allegations

RIL shares recouped early losses to close marginally higher on Thursday.

RIL shares were down nearly 2 per cent in early trading, a day after India Against Corruption activist Arvind Kejriwal accused the company of pressurising the government to increase gas price although the energy major has denied the charges .

RIL shares ended 0.22 per cent higher on BSE to settle at Rs 807.05. At NSE, RIL shares ended at Rs 807, up 0.19 per cent.

In the broader market, the BSE benchmark Sensex closed the day at 18,561.70, up 56.32 points.

"The Kejriwal effect was short-lived on RIL as the stock opened lower on knee-jerk reaction but, finally closed higher," Kishor Ostwal, CMD, CNI Research said.

Reliance Industries Chairman Mukesh Ambani on Wednesday came under attack from India Against Corruption (IAC) which alleged that the UPA and the previous NDA governments had favoured his company by giving contract on gas exploration in KG Basin and concessions at a huge cost to the exchequer.

RIL, however, refuted the charges saying the allegations were at the "behest of vested interests". (With PTI inputs)