Waiver from the US to Buy Russian Oil Helps Reliance Soar 2%
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Reliance Industries gained attention on March 6, 2026, as the US eased sanctions on Russian oil, allowing India to secure stranded shipments amid escalating Middle East tensions.
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The stock rose from the previous close of Rs 1,389.40 to an Intraday high of Rs 1,424.30, marking a gain of about 2.51 per cent. The share closed at Rs 1,404.80, a growth of 1.11 per cent. The stock recorded a traded volume of 193.12 lakh shares, and the total traded value stood at Rs 2,728.49 crore.
This comes after the US government temporarily eased sanctions for 30 days to allow India to buy Russian oil currently stranded at sea, amid escalating tensions in the Middle East. The closure of the Strait of Hormuz has raised oil prices tremendously. Tehran has threatened to attack vessels attempting to pass through since the US and Israel began their war against Iran.
Bessent said the waiver would "not provide significant financial benefit" to Russia as it only authorised transactions involving oil already stranded at sea. "This stop-gap measure will alleviate pressure caused by Iran's attempt to take global energy hostage," Bessen said on X.
About Reliance Industries Limited
Reliance Industries Limited (RIL) is India’s largest private sector enterprise and a Fortune Global 500 leader. Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Today, the company has a strong presence across energy, telecom, retail, media, and emerging green technologies.
RIL’s diversified business portfolio of businesses continues to deliver strong profitability and cash flow generation.
Talking about the past performance of the company, the shares of Reliance Industries Limited have delivered returns of 16.41 per cent over the past year as of March 6, 2026. However, the stock has declined 10.63 per cent on a year-to-date basis during the same period. The sales of the company stood at Rs 264,905 crore in Q3 2025-26, a YoY growth of 10.38 per cent. Net Profit grew to Rs 22,290 crore, registering a growth of just 1 per cent on a Y-o-Y basis.
Disclaimer: The article is for informational purposes only and not investment advice.