Reliance Industries, leading private sector enterprise, gained on Monday after the company, BP and NIKO issued a notice of arbitration on May 9, 2014 to the Government of India (GoI) seeking the implementation of the ''Domestic Natural Gas Pricing Guideline 2014'' notified on Jan. 10, 2014.

The continuing delay on part of the Government of India in notifying the price in accordance with the approved formula for the Gas to be sold has left the parties with no other option but to pursue this course of action.  Without this clarity, the parties are unable to sanction planned investments of close to USD 4 billion this year.

Shares of the company are trading at Rs 1,028.50, up Rs 31.15, or 3.12% at the Bombay Stock Exchange (BSE) on Monday at 1:45 p.m.

The scrip has touched an intra-day high of Rs 1,048 and low of Rs 995. The total volume of shares traded at the BSE is 739,895.

In the earlier session, the shares gained 3.93%, or Rs 37.7, at Rs 997.35. Currently, the stock is trading all time 52-week high, which is above 34.44% over the 52-week low of Rs 765.