Reliance blazes ahead on expansion plans

DALAL STREET SPIKES

Reliance Industries surged 5.16 per cent to Rs 2,314.40 on the BSE due to the company's plans to set up its third refinery at Jamnagar. This is part of an ambitious project to reach a total capacity of 100 million metric tonnes per annum.

Reports suggest that the company has appointed a global oil and refinery consultancy company to evaluate feasibility of the project, which will help in capitalising the increased requirements for global crude distillation. A total of 5.20 lakh shares were traded on the BSE counter.