Petrol pump plans fuel Reliance Industries

Dalal Street Spikes

 The counter moved up on good buying support in late afternoon trades, specially from foreign institutional investors, according to market sources.

 Market talk indicates that hedge funds were active in the RIL counter. Players attribute the buying to news that the company had received approval to set up petrol pumps in the country and that it plans to set up 500 petrol pumps across the country by March 2004.

 The counter has witnessed accumulation in the last few months on good growth prospects. The government