MARKET EYE-India's Reliance Industries gains on reserves hopes

Fri Jun 14, 2013 12:18am EDT
 
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* Shares in India's Reliance Industries Ltd gain 1.7
percent after its KG-D6 block partner Niko Resources Ltd
 said its proved reserves increased by 160 percent, and
that a recent gas discovery in the D6 block off India's east
coast could add significantly to future reserves.
 
* Reliance Industries is the operator of the block with a 60
percent stake. BP Plc holds 30 percent and Niko the rest.
* The Canadian oil and natural gas producer said in May it made
a significant gas discovery, along with its partners, in the
KG-D6 block off India's east coast. 
* Niko shares also rose as much as 13 percent in morning trading
on the Toronto Stock Exchange on Thursday.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)