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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, Jul 14
04:00 Business NZ PSI 2 47.3 44.1 Revised from 44.0
04:15 Electronic Card Retail Sales (MoM) 1 0.5% -0.1% Revised from -0.2%
04:15 Electronic Card Retail Sales (YoY) 1 -0.4% -0.1% Revised from 0.9%
12:00 Producer and Import Prices (MoM) 1 0.2% -0.5%
12:00 Producer and Import Prices (YoY) 1 -0.7%
18:00 Wholesale Sales (MoM) 1 -0.4% -2.3%
21:00 3-Month Bill Auction 1 4.255%
21:00 6-Month Bill Auction 1 4.145%
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