Reliance, Essar in corporate espionage |
Reliance Industries shares fell as much as 3.4 per cent on February 20 on news that an employee of the company has been detained in the corporate espionage case involving the alleged leak of classified documents from the petroleum ministry to corporates. Essar is the other major Indian company embroiled in the same case, besides a former Indian journalist who has been operating energy portals online. The confidential information was allegedly shared with corporate houses and had details of policies used for oil exploration, pricing as well as imports. RIL, which is the third most influential stock in the blue chip Nifty index, was the top loser in morning trade. As of 10.20 a.m., the stock traded 2.7 per cent lower at Rs 878, underperforming the broader oil & gas sub-index on the BSE, which traded 1.2 per cent lower. Among other energy shares, Cairn India traded flat at Rs 253.75, while Essar Oil edged up 0.3 per cent to Rs 112.40.
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