New Delhi, June 1 -- Reliance Industries (RIL) shares gained over 1% on Monday, 1 June, after reports indicated that the company has partnered with state-owned NLC India Ltd (NLCIL) to explore an underground lignite gasification project in Gujarat.

According to a PTI report citing sources, NLCIL and Reliance Industries have signed an agreement to evaluate the feasibility and technical viability of converting lignite reserves into gas through underground gasification technology.

The proposed project will assess the potential of two lignite blocks owned by NLC India in Gujarat. Preliminary technical studies are currently underway, with Reliance contributing its expertise in gasification technologies, the report added.

The initiative aris...