RIL defies broader market, investors richer by Rs 4k cr

MUMBAI: Reliance Industries on Tuesday defied the broader market trend to clock 1.39 per cent gain on the Bombay Stock Exchange after the company

said it has discovered an oilfield in Gujarat.

Shares of Reliance Industries Ltd closed at Rs 2,052.60, up 1.39 per cent on BSE from its previous close. On the National Stock Exchange also, RIL scrip ended higher 1.62 per cent at Rs 2,057.10

At the end of today's trading session the

market cap of RIL stood at Rs 3.37 lakh crore, gaining as much as Rs 4,608.96 crore, from its yesterday's market valuation of Rs 3.32 lakh crore.

The surge in the counter assumes significance with both benchmark indices ending in the negative zone as investors resorted to profit booking at the existing higher levels.

The 30-share Sens*x closed lower by 58.16 points or 0.35 per cent at 16,440.56, while the wide-based Nifty settled at 4,881.70 points, down 0.34 per cent.

The stock has surged nearly thirteen per cent in the last five trading sessions.

Heavy buying was seen in the counter after the company said that this discovery is expected to open future potential within the block, marketmen said.

Reliance today said it has discovered oil in the fifth well it drilled on the 635-square kilometer CB-ONN-2003/1 block in the Cambay basin.