Reliance Industries Limited shares have jumped sharply over the past few trading sessions. While it has pared some gains on Wednesday, analysts remain optimistic about its future performance. Will the stock hit a record high soon? Here is all you need to know.
The key trigger to watch out is
Reliance AGM and see if there are specific announcements related to its oil-to-chemicals business, says Sushil Choksey of Indus Equity Advisors. Edited excerpts from an interview:
What do you make of the big up move in Reliance shares in a matter of two days? What did we miss out over there?
RIL share prices peaked out around September-October and was underperforming. Within 14,300 to the current range, Nifty might have moved 2-3 times but Reliance kept sliding from the peak by almost Rs 350.
Now look at the triggers for the stock. Its petrochemical business is a play on the consumption story in India. O2C business is also a play on the consumer side. Globally, fuel demand is on the rise and refineries in the US are facing disruption.
Shares of telecom operators - Bharti Airtel, Reliance Industries-owned Jio gained today
Share price of telecom operators Bharti Airtel and Reliance Industries surged on Wednesday, March 3, a day after the companies purchased radiowaves in the spectrum auction 2021. In the two-day spectrum auction, 855.60 MHz of spectrum was bought for ₹ 77,814.80 crore. On Wednesday, Reliance Industries surged over two per cent on the BSE. It opened at Rs 2121.70, touching an intra day high of Rs 2157 and an intra day low of Rs 2107.20, so far. Shares of Bharti Airtel opened on the BSE at Rs 548.25, touching an intra day high of Rs 550.5 and an intra day low of Rs 540.25, so far. (