Shares in Reliance Industries, controlled by Mukesh Ambani, rose 4 percent in opening deals on Monday after the billionaire Ambani brothers took a step towards reconciliation in their long-running feud.
The brothers will now be free to compete on each other’s turf, with the exception of gas-fired power plants, removing a source of friction between the two conglomerates.
Telecoms firm Reliance Communications, controlled by Anil Ambani, gained 6 percent, while financial services firm Reliance Capital added 7 percent.
Reliance Natural Resources, also controlled by Anil Ambani, jumped 20 percent.
(Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan)
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