The government bi-annually fixes prices of the locally-produced natural gas which is converted into CNG for use in automobiles, piped to household kitchens for cooking and used to generate electricity and make fertilisers.
Reliance Industries share price hit a record high on Friday with its market capitalisation crossing ₹20 lakh crore. Reliance shares rallied as much as 3.4 percent to a fresh high of ₹2,949.90 apiece on the BSE.
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.