RIL shares touch 52-week high, ONGC gains after US raids Venezuela

Shares of Reliance Industries (RIL) and Oil and Natural Gas Corporation (ONGC) rose sharply on Monday after the US carried out a military operation in Venezuela , capturing President Nicolás Maduro and his wife. Analysts say the development could create short-term opportunities for Indian oil companies while also adding medium-term uncertainties for the global oil market.

In early trading, ONGC shares jumped 2 percent to Rs 246.80 , emerging as one of the top gainers on the Nifty 50 index. Reliance Industries climbed over 1 percent , hitting a 52-week high of Rs 1,611.8 , pushing its market value close to Rs 22 lakh crore .

The US operation, named ‘Absolute Resolve’ , involved airstrikes across Venezuela and the capture of President Maduro and the First Lady. US President Donald Trump said the US would oversee an interim administration to manage Venezuela’s oil resources, adding, “They stole our oil… We’ll be selling large amounts of oil to other countries.”

Analysts say the tensions could affect Indian companies in two ways. Reliance may benefit from sourcing Venezuelan crude at a $5-8 per barrel discount to Brent , boosting revenue margins, while ONGC could receive around $500 million in unpaid dividends from the San Cristobal oil field. On the other hand, a US-led revival of Venezuelan oil production could increase global supply , putting downward pressure on crude prices and limiting long-term gains.

The surge in RIL and ONGC shares highlights how closely Indian oil-linked companies are tied to geopolitical developments . Investors are watching the unfolding situation in Venezuela, as it could influence profits, crude prices, and stock market movements in the weeks ahead.