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The Reliance Industries Ltd and Reliance ADA Group stocks soared in trading on Monday - May 24, 2010 after both the groups entered into a new non-compete agreement canceling the previous one.

The cancellation of existing non-compete Agreement as above will provide enhanced operational and financial flexibility to both groups, and greater ability to participate in high growth sectors of the Indian economy, such as oil and gas, petrochemicals, telecommunications, power and financial services. However, RIL has agreed not to enter into Gas Based Power Generation Business for the period upto March 31, 2022. An appropriate exception has been made in respect of RIL's captive gas based power plants.

These developments will eliminate any room for further disputes between the two groups, on matters relating to the scope and interpretation of the non-compete obligations.

Reliance Industries and Reliance ADA Group are committed to fulfilling the vision of their legendary founder, Shri Dhirubhai Ambani, and contributing to the future growth of the Indian economy.

The Reliance Industries stock was trading at Rs.1031, up by Rs.35.25 or 3.54%. The stock hit an intraday high of Rs.1049 and low of Rs.1000. The total traded quantity was 657582 compared to 2 week average of 979657.

The Reliance Industrial Infrastructure stock was trading at Rs.796, up by Rs.92.30 or 13.12%. The stock hit an intraday high of Rs.832 and low of Rs.724.90. The total traded quanity was 151939 compared to 2 week average of 61001.

The Reliance Capital stock was trading at Rs.680.20, up by Rs.38.90 or 6.07%. The stock hit an intraday high of Rs.691 and low of Rs.660. The total traded quantity was 216395 compared to 2 week average of 357939.

The Reliance Natural Resources Ltd stock was trading at Rs.53.75, up by Rs.9.25 or 20.79%. The stock hit an intraday high of Rs.56.35 and low of Rs.47. The total traded quantity was 9708236 compared to 2 week average of 10501361.

The Reliance Communications stock was trading at Rs.140.95, up by Rs.7.55 or 5.66%. The stock hit an intraday high of Rs.143.30 and low of Rs.136.95. The total traded quantity was 1138845 compared to 2 week average of 1215209.

The Reliance Infrastructure stock was trading at Rs.1054.60, up by Rs.66.15 or 6.69%. The stock hit an intraday high of Rs.1077.75 and low of Rs.1015. The total traded quantity was 220119 compared to 2 week average of 402046.