Business
March 12, 2026
Reliance Industries (RELIANCE) shares moved slightly higher on Thursday after fresh headlines tied the firm to a massive refinery project in the US. Reliance’s stock gain was small, but enough to catch the attention of traders in a market that has been cautious around energy stocks.
Recent data revealed the Reliance share price opening around ₹1,392 and climbing to a high near ₹1,410.90 today. But the stock eased back towards the ₹1,390 range. The stock also briefly touched a low of ₹1,380.95 during the day. This reflected a fairly tight trading band.
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How Reliance Stock Gained After Trump’s Refinery Remarks And Market Reaction
The latest Reliance stock rise came after a news update that caused quite the buzz. US President Donald Trump announced plans for a proposed $300 billion refinery project in Brownsville, Texas. The facility, if built, would mark one of the first major refinery developments in the US in decades. Nick Ayers, a former White House official and incoming Vice Chairman of America First Refining, said,
“For years, investors believed building a new refinery in the United States was impossible. This project is a bet on American production, American workers, and the long-term strength of our domestic energy economy.”
But how is this related to Reliance and why is its stock up? Trump, during the announcement, revealed that Reliance would support the $300 billion refinery project. The Indian company could support the development of this facility. It should be noted that investors already view Reliance as one of the world’s most influential refining players. This is because of their Jamnagar complex in Gujarat, which is among the largest refining hubs with a capacity of 1.4 million barrels per day.
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At the same time, Reliance stock’s moderate movement suggests investors are not rushing to price in the news just yet. The company has not released any information confirming the size or structure of its involvement in the proposed project. Until those details emerge, traders appear to be threading carefully. But analysts did not shy away from setting notable targets for Reliance stock. Brokerage JM Financial has remained bullish. The firm said,
“We reiterate BUY (unchanged TP of INR 1,730) on comfortable valuations after the recent correction, as share price adequately factors concern around near-term weakness in retail business EBITDA growth on account of ramp-up in quick commerce business.”
Reliance remains India’s largest private sector firm in terms of market capitalization. It contributed around 7% of the country’s merchandise exports. Along with this $300 billion refinery project, the expected IPO of Jio could also act as a catalyst for the stock.
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