India's Reliance finds oil in Cambay Basin block

MUMBAI, Nov 10 (Reuters) - India's Reliance Industries (RELI.BO) on Tuesday announced its first oil discovery in its exploration block in the Cambay Basin off the western Indian state of Gujarat.

Reliance holds 100 percent participating interest in the block which covers an area of 635 square kilometres, it said in a statement.

This block was awarded to Reliance under the fifth round of the New Exploration Licensing Policy.

By 10:17 a.m. (0447 GMT), shares in Reliance were trading up 2.7 percent at 2,079 rupees, while the main index was up 0.83 percent. (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)