(RIL) shares touched a fresh one-year high on Friday after the stock rose 0.57 per cent to an intraday peak of Rs 1,557.95. It later gave up gains and closed 0.20 per cent lower at Rs 1,545.95.

The company recently stopped importing Russian crude oil for its export-oriented refinery to comply with the European Union's restrictions on petroleum products derived from Russian supplies. According to Mayuresh Joshi, Head of Equity Research at William O'Neil India, two key elements are currently driving sentiment around the stock: the halt in Russian oil intake and movements in the Singapore Gross Refining Margin (GRM). Advertisement

"Singapore GRM have actually touched $9–9.5. With Reliance's various feedstock options, it usually trades at a $4–5 premium to Singapore GRM. So, if Singapore GR

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