RIL shares rise over 2%: Two triggers behind the Mukesh Ambani-led firm's rally today

Shares of Reliance Industries Ltd (RIL) rose ahead of the opening of Jio Platforms' mega IPO today. India's largest IPO by issue size will close on October 23. Jio Platforms raised nearly Rs 8,110 crore from anchor investors on October 19. A total of 212 investors participated in the allocation, including 25 domestic mutual fund houses, 22 life insurance companies and pension funds, and 85 global funds.

Another trigger for the billionaire Mukesh Ambani-led RIL's stock are reports that US Secretary of State Marco Rubio saying that the United States would discuss with Mukesh Ambani-owned Reliance Industries, about refining more Venezuelan crude.

When asked whether he would speak with Reliance Industries and encourage the company to begin oil production in Venezuela, Rubio said, "We've talked to them about it in the past. We're going to go see what the holdup is and what opportunities exist. We'll see how the conversation goes. This is a company that has had a presence in Venezuela in the past and whose refining capabilities are substantial."

Rubio's visit is significant since he is set to visit the Jamnagar refinery complex in Gujarat, a major player in global oil markets. According to reports, RIL increased diesel exports from its Jamnagar and Vadinar refineries in mid-2026, taking advantage of favourable global refining margins. In July this year, the company shipped around 4 million to 5 million barrels of diesel to Europe, the highest volume in 10 months, while exports to Brazil reached 2.8 million barrels, an 11-month high. The surge in shipments was supported by record-high international diesel crack spreads and an exemption for its special economic zone (SEZ) refinery from domestic windfall taxes.

Meanwhile, RIL shares climbed 2.54% to Rs 1233.40 today against the previous session close of Rs 1202.80. Market cap of the firm reached Rs 16.68 lakh crore. Total 1.76 lakh shares of the firm changed hands amounting to a turnover of Rs 21.53 crore today. RIL shares trade above the 5 day, 10 day, 20 day but lower than the 30 day, 50 day, 100 day and 200 day moving averages.

The large cap stock has lost 9% in six months and fallen 22% in 2026. The stock is down 16% in a year.