Reliance at fresh 52-week high
Reliance Industries Limited (RIL) is trading at a fresh 52 weeks high on Monday 26th of September. The stock has gained momentum in past few trading sessions even as markets are finding it difficult to trade in green.
RIL is showing strength and is trading at Rs 1,120 on intraday basis and recording a high of 1,123 which also marks its fresh 52 week high on intraday basis.RIL is one counter which has gained the most in terms of market capitalisation (m-cap) in in previous week. Whereas other index heavy counters like TCS, HDFC Bank, HDFC, ONGC and Coal India saw gains in their m-cap, RIL gained the most. The m-cap for RIL zoomed by Rs,8,853 crore to Rs 3.57,698.24 crore. The market cap for all the index heavy weight combined went up by Rs 33,985.46.
Interestingly the top losers in terms of m-cap have been ITC, Infosys and HUL.RIL is in one the most widely tracked share on bourses by investors and currently the stock is in news for the Reliance Jio Infocomm Limited (Rel-Jio) which is the telecom subsidiary of the company. Rel Jio threaten to bring in the price war in telecom industry and aims to capture substantial market share in its first year of its launch of services.