Currently, Reliance Industries Ltd is a major supplier of petrochemicals along with government-owned refiners.
The leather chemicals business stands transferred to Stahl India from September 30, 2017
The stock moved higher by 10% to Rs 1,120, bouncing back nearly 14% from intra-day low on the BSE.
The stock was up 5% to Rs 1,060 on the BSE in intra-day trade.
The stock surged 9% to Rs 1,008 on the BSE in early morning trade.