Reliance Industries gains for fifth straight session

Shares of Reliance Industries (RIL) were trading higher by 1% at Rs 916 on the National Stock Exchange (NSE), extending its past four-day’s gain on the bourses, on media reports that the company has discovered massive gas reserves at MJ-1 block in its KG-D6 basin.

Since April 6, 2015, the stock has rallied nearly 11% from Rs 825, compared with 1.8% rise in the CNX Nifty.

RIL stock has contributed nearly one-third or 171 points to the 30-share Sensex's 487 points-gain in the past five trading sessions.

Meanwhile, RIL announced after market hours on Friday, the commissioning of two plants at Dahej, Gujarat— a Purified Terephthalic Acid (PTA) plant and a PET resin (Polyethylene Terephthalate) plant.

The PTA plant with a capacity of 1,150 kilo tonnes per annum (KTA) will increase RIL's total PTA capacity to 3.2 million metric tonnes per annum (MMTPA) and global capacity share to 4%.

Today, the stock opened at Rs 907 and touched a low of Rs 899 on the NSE. A combined 2.32 million shares changed hands on the counter till 1440 hours on the NSE and BSE.

Reliance Industries Limited (RIL)