RESULT OF RELIANCE ON
17-04-2015
Positive
result of RELIANCE may take it above 970
tomorrow or let it fall till 820 if it turns
negative as per expectations.
Speculation over Saudi Aramco and Reliance Industries oil
deal
After mentoring 11 start-ups, Saudi Aramco and Reliance Industries BSE 0.40 % have not yet concluded a term contract to import diesel and gasoline, three industry sources said, fanning market speculation that the long-standing annual deal may not be renewed. A deal has normally been signed by the first quarter, but negotiations have gone on longer at a time when Saudi Arabia has become less reliant on imports following refinery expansions. The term deal talks had stalled because the companies had not been able to agree a price yet, said the sources who were familiar with the negotiations. "Even if the Saudis don't import from Reliance, Reliance will be able to sell in the domestic market due to firm summer demand and low underlying crude oil prices.
After mentoring 11 start-ups, Saudi Aramco and Reliance Industries BSE 0.40 % have not yet concluded a term contract to import diesel and gasoline, three industry sources said, fanning market speculation that the long-standing annual deal may not be renewed. A deal has normally been signed by the first quarter, but negotiations have gone on longer at a time when Saudi Arabia has become less reliant on imports following refinery expansions. The term deal talks had stalled because the companies had not been able to agree a price yet, said the sources who were familiar with the negotiations. "Even if the Saudis don't import from Reliance, Reliance will be able to sell in the domestic market due to firm summer demand and low underlying crude oil prices.
RESISTANCE:
940, 950, 969
SUPPORT: 921, 912, 893
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