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Friday, Apr 29, 2005

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Reliance Industries

Reliance Industries Ltd reported a 62 per cent increase in net profit for the fourth quarter ended March and declared a dividend of Rs 7.5 a share, against the Rs 5.25 that it declared last year. The higher profits could not, however, prevent the stocks from falling 1.48 per cent on the BSE to Rs 539.10 a share compared to the previous close of Rs 547.20.

Reliance Industries is important to the growth of the economy. While the government has cleared natural gas production at the K-G fields, production is yet to commence. It is hoped that there will be a settlement of the conflict within the Ambani family soon and the government will mediate and expedite the process.

A. Jacob Sahayam

Thiruvananthapuram

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

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