RIL advances after expansion at Jamnagar refinery

Reliance Industries was up 1.16% to Rs 922 at 9:55 IST on BSE after the company said it has successfully commissioned a refinery off-gas cracker complex at its Jamnagar refinery.

The announcement was made after market hours yesterday, 2 January 2018.

Meanwhile, the S&P BSE Sensex was up 95.13 points or 0.28% at 33,907.39.

On the BSE, 97,000 shares were traded on the counter so far as against average daily volumes of 5.60 lakh shares in the past one quarter. The stock had hit a high of Rs 927.20 and a low of Rs 917.45 so far during the day. The stock had hit a record high of Rs 959 on 24 November 2017 and a 52-week low of Rs 507.03 on 23 January 2017.

The stock had underperformed the market over the past one month till 2 January 2018, gaining 0.17% compared with the Sensex's 2.98% rise. The stock had, however, outperformed the market over the past one quarter, gaining 16.52% as against the Sensex's 8.08% rise. The scrip had also outperformed the market over the past one year, advancing 68.29% as against the Sensex's 27.14% rise.

The large-cap company has equity capital of Rs 6333.50 crore. Face value per share is Rs 10.

Reliance Industries (RIL) said that it successfully commissioned and achieved design throughput of the world's first ever and largest refinery off-gas cracker (ROGC) complex of 1.5 million metric tons per annum (MMTPA) capacity along with downstream plants and utilities. The ROGC complex is a core component of the company's most innovative and world-scale J3 project at its integrated refinery-petrochemicals complex at Jamnagar.

On a consolidated basis, net profit of Reliance Industries rose 12.8% to Rs 8097 crore on 20.1% rise in net sales to Rs 91481 crore in Q2 September 2017 over Q2 September 2016.

RIL is India's largest private sector company. The company's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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