Tomorrow most probably it cross and RNRL will cross 86
NRL may lead ADAG's new forays
The Anil Dhirubhai Ambani Group's foray into the steel, cement and shipping businesses is likely to be through Reliance Natural Resources, the group's fuel management arm.
ADAG has drawn up plans to invest Rs 65,000 crore (Rs 650 billion) in these three new areas over the next five years. The investment includes Rs 20,000 crore (Rs 200 billion) to set-up a 10 million cement plant and Rs 40,000 crore (Rs 400 billion) towards a steel plant in Jharkhand. ??
The group believes that the three new lines of businesses fit more with RNRL than with other companies under the group, an ADAG source said.
Anil Ambani, chairman of RNRL, on September 16, told the shareholders of Reliance Infrastructure, another ADAG entity, that the group's foray into shipping, cement or steel would not be through Reliance Infrastructure.
At present, RNRL is engaged in sourcing, supplying and transportation of various