RIL gains on reports the firm restarts selling diesel to Indian Railways

Reliance Industries rose 1.46% to Rs 1,026.15 at 10:42 IST on BSE on reports the company has started selling diesel to Indian Railways for the first time in a decade, after pricing of the fuel was freed.

Meanwhile, the S&P BSE Sensex was up 156.31 points or 0.55% at 28,354.60.

On BSE, so far 1.45 lakh shares were traded in the counter as against average daily volume of 4.34 lakh shares in the past one quarter.

The stock hit a high of Rs 1,027 and a low of Rs 1,011.40 so far during the day. The stock had hit a 52-week high of Rs 1,049.90 on 9 September 2014. The stock had hit a 52-week low of Rs 796.75 on 30 March 2015.

The stock had outperformed the market over the past one month till 15 July 2015, surging 12.25% compared with Sensex's 6.06% rise. The scrip had also outperformed the market in past one quarter, advancing 9.49% as against Sensex's 2.09% fall.

The large-cap firm has equity capital of Rs 3237.69 crore. Face value per share is Rs 10.

Meanwhile, a delegation led by CEO of BP, Mr. Bob Dudley met the Minister of State (I/C) Petroleum and Natural Dharmendra Pradhan yesterday, 15 July 2015. Dudley apprised the Minister of various activities of BP in India and the future plans to expand business in oil and gas sector, according to a statement issued by the Ministry of Petroleum & Natural Gas. Pradhan appreciated the role played by BP in Indian hydrocarbon sector and welcomed it to increase its presence in upstream and downstream sectors in India, the statement said.

In a historic partnership with Reliance Industries (RIL) in 2011, BP took a 30% stake in a number of oil and gas production sharing contracts in India, including the producing KG- D6 block and the formation of a 50/50 joint venture to source and market gas in India.

On consolidated basis, Reliance Industries' net profit rose 8.5% to Rs 6381 crore on 34.8% decline in net sales to Rs 67470 crore in Q4 March 2015 over Q4 March 2014.

RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.

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