Shares of Mukesh Ambani’s Reliance Industries Limited (RIL) have gained sharply in the last four trading sessions of May. The Reliance giant’s shares gained more than 10 percent in these trading sessions. On May 28, Reliance shares closed at six percent higher on the Bombay Stock Exchange (BSE) at Rs 2,094.90. And on May 31, Reliance shares hit an intraday high of Rs 2,191.5 after a 4.61 percent rise on the BSE.
Again on Wednesday, Reliance Industries Limited was trading at Rs 2,170.55 per share on the BSE at 12:40 pm. With its sharp gain, the experts and analysts remain optimistic about the RIL’s future performance.
Can Ril Reach Its All-Time High Performance?
The Reliance share had recorded its all-time of Rs 2,368.80 on September 16, 2020, after hitting a 52-week low of Rs 1,453 on May 29, 2020. But now, it begins to increase sharply. Many brokerage agencies have maintained to buy rating for the stock at the moment. Meanwhile, brokerage Jefferies has set the base target for the RIL stock at Rs 2,580 and suggested an upside scenario target of Rs 3,150.
As per the experts, it is possible that RIL nearing its previous record high or it may surpass it in the coming weeks with the ongoing momentum. They also said that “In the last 3 months, Nifty has rallied 900 points while Reliance has corrected by 2 percent despite RIL being the highest weightage stock in Nifty.”
The experts expect that the stock to be in upward momentum and it might touch Rs 2,200 to Rs 2,250 in the coming week.