Stocks

RIL commissions paraxylene plant; shares jump over 3%

Reuters | Updated on January 15, 2018 Published on April 21, 2017

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Shares of Reliance Industries gained as the company has commissioned a paraxylene plant.

Reliance Industries stock rose as much as 3.2 per cent, and was the top percentage gainer on NSE index.

The company has commissioned second and final phase of its project to produce paraxylene (PX) at Jamnagar in western Indian state of Gujarat.

According to the company, with the commissioning of the plant, Reliance's capacity for PX, a hydrocarbon, will more than double.

Reliance's Jamnagar projects are highly profitable for its core business, says Rohit Ahuja of Religare Capital Markets.

The stock has risen about 27 per cent this year up to Thursday's close.

Published on April 21, 2017
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