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Reliance Inds gains as crude surge boosts refining outlook

06-Mar-26   14:35 Hrs IST
The US Treasury Secretary, Scott Bessent has permitted a crucial 30-day waiver allowing Indian refiners to buy Russian oil. The move aims to stabilize energy markets amid escalating tension in the Middle East.

Additionally, according to media reports, China has suspended fuel exports due to the West Asia conflict, which could potentially enhance refining margins for the company.

Separately, the company's FMCG arm, Reliance Consumer Products (RCPL) has signed a memorandum of understanding (MoU) with Finland's leading foods company Fazer, to distribute premium chocolates in India.

Fazer is a leading FMCG company in Northern Europe, renowned for its high-quality confectionery, bakery and plant-based products. In 2025, Fazer Group had net sales of EUR 1,200 million

As part of MoU, the two companies will establish a long-term strategic partnership in India to produce, market, and distribute branded premium chocolates using Fazer's recipes and high-quality standards nationwide.

The partnership would combine Fazer's iconic heritage brands, innovative product portfolio, and world's finest chocolates, with RCPL's substantial scale and access to nearly 3 million retail outlets across India, as well as deep expertise in the Indian market.

Reliance Industries is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

On a consolidated basis, the conglomerate reported 1.6% rise in net profit to Rs 22,290 crore on 10% increase in gross revenue to Rs 293,829 crore in Q3 FY26 over Q3 FY25.

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