Prices of crude oil surged to an eight-week high amid escalating tensions in the Middle East. While this price rise may put a possible spanner to Indias economy, the countrys upstream or exploration companies are major beneficiaries from the scenario. Most of them saw a huge uptick. However, RIL benefitted the most.
Reliance shares climbed 7%, the most since September 2020, on optimism the disruption caused by the ongoing Red Sea crisis will increase margins on some oil products in Asia.
The Board of Reliance Industries (RIL) will meet on January 29,204 to consider and approve financial results for the quarter ended December 2023., Companies News, Times Now