In the company s latest annual report released on Wednesday, he said the company sold minority stakes in Jio Platforms - the unit that houses its telecom and digital business - and retail arm for almost Rs 2 lakh crore, 49 per cent in fuel retailing venture for Rs 7,629 crore and raised another Rs 53,124 crore through rights issue.
Reliance, Motherson Sumi among top trading ideas in June series
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Bank, auto and oil stocks in limelight
Banking and finance, automobile and oil and gas companies are garnering most attention in the June derivatives series. Traders are adding bullish positions in state-owned banks while some metal stocks continue to enjoy bullish interest due to the ongoing rally in commodity prices. Auto stocks are in the limelight due to May sales numbers and corporate earnings. Meanwhile, Reliance Industries stood out in the derivatives segment as traders are covering short positions in the country’s most valuable company and expect it to reclaim re
Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1471426.17 Crore) operating in Diversified sector.
Read more about RIL sees sharpest intra-day gain in over 2-months; more upside likely on Business Standard. Jefferies maintains buy rating on the stock with price target of Rs 2,580 per share.
The nearly 6% rally in RIL shares accounted for almost all of Nifty’s gains on May 28.For the week, RIL has gained over 5.7%, making this the fourth best week