Shares of Reliance Industries gained momentum on Tuesday, rising 2 percent on the National Stock Exchange following a major international development after US President Donald Trump announced a landmark energy investment involving the Indian conglomerate.
The stock traded at ₹1,423.90 at 9.27 am, soaring to a high of ₹1,434, from the previous close of ₹1,408.80
Reliance Industries stock movement
The US President revealed that the United States will see its first new oil refinery in five decades, backed by investments from Reliance Industries. The refinery will be located in Brownsville, Texas, and is expected to play a major role in strengthening America’s domestic energy capacity and industrial growth.
Trump shared the announcement on his social media platform, Truth Social, describing the project as a historic milestone for the US energy sector and employment landscape.
“America is returning to real energy dominance! Today I am proud to announce that America First Refining is opening the first new US oil refinery in 50 years in Brownsville, Texas. This is a historic $300 billion deal — the biggest in US history, a massive win for American workers, energy, and the great people of South Texas! Thank you to our partners in India, and their largest privately held energy company, Reliance, for this tremendous investment.”
The announcement has boosted investor sentiment around Reliance Industries, which continues to expand its global energy footprint through strategic partnerships and large-scale infrastructure investments.
Meanwhile, the company on Tuesday announced that Jamnagar oil refining complex will maximise cooking gas LPG production, and gas from Bay of Bengal KG-D6 fields will be diverted to the priority sector amid West Asia war-related disruptions.