Krishna Basin find boosts Reliance

DALAL STREET SPIKES

Reliance Industries rose to an all time high of Rs 2,375 from its previous close of Rs 2,274.40, before settling for a close with a gain of around 4 per cent at Rs 2356.70. The volumes remained firm at nearly 8 lakh shares.

The rally followed the announcement of the company's discovery of oil in the deepwater block in the Krishna Basin. The stock has returned almost 33 per cent over the past one month, rising from the levels of Rs 1,775.