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Monday, May 10, 2010

RNRL shares fall 9.5%

Shares in India’s Reliance Natural Resources fell as much as 9.5% on Monday morning, extending Friday’s 23% tumble after the Supreme Court delivered a verdict against the company in a gas dispute with Reliance Industries.

The Supreme Court on Friday ordered the two companes to renegotiate within six weeks a private natural gas supply contract between Mukesh Ambani’s Reliance Industries and the younger Anil’s Reliance Natural Resources.

At 9:31 am (0401 GMT), Reliance Natural Resources was down 8.2% at Rs48.40.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jun 23
19:30 Existing Home Sales Change (MoM) 2 0.8% -1.3% -0.5%
19:30 Existing Home Sales (MoM) 1 4.03M 3.96M 4.00M
21:00 6-Month Bill Auction 1 4.120% 4.155%
21:00 3-Month Bill Auction 1 4.195% 4.240%
22:40 Fed's Goolsbee speech 2
Tuesday, Jun 24
00:00 Fed's Kugler speech 2
01:00 CFTC Gold NC Net Positions 1 $187.5K
01:00 CFTC Oil NC Net Positions 1 191.9K
01:00 CFTC GBP NC Net Positions 1 £51.6K
01:00 CFTC AUD NC Net Positions 1 $-69.9K
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