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Reliance Power buys Indonesian coal mines

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MUMBAI: Reliance Power Ltd said on Friday its unit had signed an agreement to acquire 100 per cent in three coal mines in Indonesia for an undisclosed sum, Reuters reports.

It did give further details about the transaction. Reliance Power, which is part of India's Anil Dhirubhai Ambani group, is building power plants across India using a record $3 billion it raised in January in India's biggest initial public offering.
MCX Light Sweet Crude Oil 19 June 2012 contract was trading at Rs 5241 , up Rs. 233 . What's your view on it?
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