RIL rallies 6% as firm to restructure, repurpose gasification assets
New Delhi: Reliance Industries’ shares rose 6% in Thursday’s mid-day trade after it said it would hive off its gasifier unit and induct investors in it.
“While investors have been skeptical about returns on the petcoke gasifier business for the past five years, the environment of high global gas prices, gasifier’s ability to produce hydrogen which can be converted into blue hydrogen (using carbon capture) and gasifier output of syngas (valuable in producing higher value add chemicals) – all now make it a highly profitable investment after multiple years of challenges,” Morgan Stanley said in a note on Thursday.
