InvestorQ : Why has the stock of Reliance Industries been surging so sharply in the last few sessions?
swati Bakhda made post

Why has the stock of Reliance Industries been surging so sharply in the last few sessions?

Answer
image
Sam Eswaran answered.
2 weeks ago
Follow

Reliance Industries appears to be on a continuous up move as it extended its rally for the seventh day in succession. The stock has been on a roll gaining close to 15% in the last 7 sessions and has also touched a 7-month high on its share price. Its market capitalization crossed the Rs.14 trillion mark which is roughly equivalent to the $200 billion. This was a level, RIL had earlier breached but then it had got subdued in the market.

The stock started its recent rally from below Rs.2,000 levels and is now well above the Rs.2200 mark. On 03 June, the RIL stock even RIL touched a high of Rs.2,250 during the day, but corrected later. The trigger for the recent rally in RIL has come after brokerage house Jefferies upgraded the oil to chemicals O2C business of Reliance and raised hopes of early stake sale to Aramco. Jefferies is more positive on RIL O2C business than digital business.

4 Views