RIL shares surged 3.40% to a record high of Rs 2,949.90 against the previous close of Rs 2,852.70 on BSE. The stock fell to its 52-week low of Rs 2012.14 on March 20, 2023.
Reliance Industries shares ended at Rs 2,606 level, up 0.36% on January 5 against the previous close of Rs 2597.40 on BSE.
Reliance Industries shares ended at Rs 2,606 level, up 0.36% on January 5 against the previous close of Rs 2597.40 on BSE.
Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL) have delivered flat returns for investors this year. RIL shares have gained a marginal 0.66% on a year-to-date (YTD) basis against a healthy 10.35% returns by Sensex in 2023. In the current session, RIL stock was trading flat at Rs 2393.25 against the previous close of Rs 2376.40 on BSE. The stock fell to its 52-week low of Rs 2012.14 on March 20, 2023 and hit a 52 week high of Rs 2635.17 on July 19, 2023.
Reliance Industries share price today: RIL shares closed at Rs 2,288.55, down 1% in the last session against the previous close of Rs 2,311.35. Market cap of Reliance Industries fell to Rs 15.48 lakh crore on BSE.
Despite a massive underperformance at the bourses since the last six months, analysts are turning optimistic on Reliance Industries (RIL). Those at Jefferies, for instance, say that the company is a proxy play for India’s consumption growth story. The key catalysts for the stock, according to a Jeffries note, include faster-than-expected market share gain in retail, oil-to-chemicals (O2C) stake sale, recovery in gross refining margins (GRM), potential public listing of Jio and even a possible banking licence going ahead. That apart, analysts feel any tariff hike in Reliance Jio (RJio) – its telecom venture – will also aid performance. With balance sheet adequately de-levered, proceeds from a strategic stake sale in the O2C business will create a sizeable war chest for the company, analysts say.