Mumbai, March 5 -- The stock had declined 4.26% over the past three trading sessions amid rising geopolitical tensions in the Middle East, which had weighed on broader market sentiment.

A domestic brokerage said the company could see near-term benefits from the recent surge in energy prices, driven by a sharp rise in diesel refining margins and a potential improvement in petrochemical spreads. Diesel cracks have reportedly climbed to around $35-$42 per barrel from about $20 earlier. Given that diesel accounts for a significant portion of output at Reliance's refinery, sustained cracks could boost the company's gross refining margins and support EBITDA growth.

However, the brokerage cautioned that the spike in diesel cracks may not be su...