Reliance Said Likely to Miss Drilling Goal at Biggest Gas Field

Aug. 25, 2011 12:09PM PST

Bloomberg reports that Reliance Industries Ltd. (NYSE:RIL) is likely to miss a target of drilling 11 new wells at India’s biggest natural gas deposit by March 31.

The market news is quoted as saying:

Reliance has plunged 29 percent in Mumbai trading this year and briefly lost its position as India’s biggest company by market value last week as gas output from the block off the east coast declined.

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