The Reliance Anil Dhirubhai Ambani Group (ADAG) announced that the boards of two of its companies - one in the business of generating power and the other that trades and transports oil and gas - will assemble on July 4 to consider merger.

In identical regulatory filings with the stock exchanges, the two companies said, "A meeting of the board of directors of the company will be held on July 4 to consider merger of Reliance Natural Resources with Reliance Power."

The announcement was made after the closing bell at Indian stock markets.

While Reliance Power ended the day after gaining 3.3% at Rs 175.15, Reliance Natural Resources Ltd marked its closure after losing 1.9% at Rs 63.65 per share.

The market capitalization of the two firm was Rs 41,979 crore and Rs 10.394 crore, respectively, as at closing bell Friday.

Reliance Power on its own and via divisions has a portfolio of around 35,000 MW of power generation capacity, both operational as well as under development, including three ultra-mega projects.

Reliance Natural Resources is engaged in the business of sourcing and transportation of gas, coal and liquid fuels. It is the second largest player in the coal bed methane business in India in terms of acreage and has significant oil and gas blocks in Mizoram. (With Inputs from Agencies)