Reliance Industries shares are upbeat in early trade after the US President Donald Trump announced the opening of a new oil refinery in 50 years with the investment help from Reliance Industries. In a post on Truth Social, Trump said that the new refinery would fuel American markets and strengthen national security, along with boosting energy production.
“THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY,” read Trump’s post on Truth Social. He thanked India’s largest privately held energy company, Reliance Industries, “for this tremendous Investment.”
Reliance owns and operates the largest oil refinery globally, which is located in Jamnagar, India. This refinery boasts a market capitalisation of $206 billion.
Trump says new refinery to be ‘cleanest’ in the world
Trump added that the new refinery would deliver billions of dollars in economic impact and create thousands of jobs in the region. “It is because of our America First Agenda, streamlining Permits, and lowering Taxes that have attracted billions of dollars in deals coming back to our nation. A new refinery at the Port of Brownsville will fuel US Markets, strengthen our National Security, and boost American Energy production.”
As per Trump’s post on social media, it is touted as “the cleanest refinery in the world.” According to the US President, “it will power global exports and bring thousands of long overdue jobs and growth to a region that deserves it.”
Being developed by America First Refining, the refinery is designed to process 100% American shale oil. However, there is no information on exchanges from Reliance Industries on the same. FinancialExpress.com is awaiting official comment from RIL. We will update as soon as we hear from the company.
JM Financial on Reliance Industries
Earlier, in a report on March 06, JM Financial had highlighted that Reliance Industries’ stock price “correction overdone”. The stock has dropped 4% this week and 8% in the last one month amid a rise in West Asia tension. JM Financial maintained a ‘Buy’ rating on Reliance Industries, with a recommendation of Rs 1,730 as the 12-month target price, which implies an upside of 28.6% from the current market price.
JM Financial said that Reliance Industries’ Oil-to-Chemicals (O2C) business is not negatively impacted by spikes in crude and LNG prices. Instead, Reliance Industries is positioned to see near-term benefits from a jump in diesel cracks (which could increase Gross Refining Margins by $4-5 per barrel) and a likely rise in petrochemical margins. This is because its petchem feedstock has limited dependency (25%) on crude-linked naphtha, relying more on ethane and off-gases.
Reliance Industries Q3FY26
Reliance Industries reported a consolidated net profit of Rs 18,645 crore in Q3FY26, compared to a net profit of Rs 18,540 crore in the same period a year ago. On a sequential basis, profit increased marginally by 2.6% from Rs 18.165 crore.
The company’s revenue from operations rose 10.5% YoY to Rs 269,496 crore in Q3FY26 from Rs 2,43,865 crore in Q3FY25. Sequentially, the revenue rose 4% from Rs 258.898 crore.
Reliance Industries shares price performance
The share price of Reliance Industries has risen 7.58% in the last five trading sessions. The stock has dropped 4% in the previous one month and has gained 2% in the past six months. Reliance Industries share price has declined by over 13% over the last 12 months.