RIL advances after commissioning paraxylene plant at Jamnagar

Reliance Industries rose 2.4% to Rs 1,402.30 at 10:01 IST on BSE after the company announced the commissioning of the second and final phase of Para-Xylene unit at Jamnagar.

The announcement was made after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 82.57 points or 0.28% at 29,504.96.

On the BSE, 1.22 lakh shares were traded on the counter so far as against the average daily volumes of 2.05 crore shares in the past one quarter. The stock had hit a high of Rs 1,408 and a low of Rs 1,373.05 so far during the day.

The stock had hit a 52-week high of Rs 1,448.50 on 6 April 2017 and a 52-week low of Rs 925.70 on 23 May 2016. It had outperformed the market over the past one month till 20 April 2017, advancing 6.96% compared with the Sensex's 0.33% fall. The scrip had also outperformed the market over the past one quarter, surging 33.51% as against the Sensex's 8.83% rise.

The large-cap company has equity capital of Rs 3251.33 crore. Face value per share is Rs 10.

Reliance Industries (RIL) announced the successful and flawless commissioning of the second and final phase of Para-Xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and Aromatic Extraction units at Jamnagar.

With the commissioning of this plant, RIL's PX capacity will be more than double. RIL will emerge as the world's second-largest producer of PX with about 11% of global production, it said.

RIL's consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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