Reliance share price: Year-to-date (YTD), the shares of Reliance Industries, the largest corporation in India by market capitalization, have surpassed the benchmarks of the Indian stock market, the Sensex and the Nifty 50. Reliance’s share price on the BSE has increased by 17% as of the closing on September 4, compared to increases of 14% and 16% in the Sensex and Nifty 50, respectively, this year.
October 26 of last year saw the stock hit a 52-week low of ₹2,221.05, but after that, the price showed advances for five months running. Only three months have seen decreases this year: April (down nearly 2%), May (down nearly 2%), and July (down nearly 4%). On July 8, the stock reached a 52-week high of ₹3,217.90 before profit booking. It is currently trading 6% below its 52-week high.
Against its prior close of ₹3,029.80, the stock opened on Thursday, September 5, at ₹3,039.45. However, during the session, it lost almost 0.20 percent, closing at ₹3,023.95. The stock fell 0.12% at ₹3,026.10 at 11:35 a.m., in line with the Sensex, the market benchmark, which was down 0.10 percent at 82,267 at the same time.
In the meanwhile, bonus shares at a 1:1 ratio are anticipated to be announced by the board of directors of the firm. This will be Rreliance’s sixth bonus issue and its first since 2017.
Analysts predict that Reliance Industries’ ambitions for company expansion will be beneficial for the stock. Reliance Industries Chairman Mukesh Ambani declared during the firm’s 47th annual general meeting (AGM) on August 29 that the company aims to double its worth by the time it reaches its 50th anniversary in 2027.
Reliance Industries is doubling its size by igniting its five growth engines, according to Chairman Ambani.
To provide light on the future of Reliance shares, What they said was as follows:
Seema Srivastava works for SMC Global Securities as a senior equity research analyst
Reliance Industries’ conventional petrochemical industry has been expanding steadily.
The company’s profits should increase as a result of the declining oil prices since it would immediately benefit from GRM (gross refining margins).
In addition to its entry into the green market, the company’s other endeavors, such as Reliance Jio and Reliance Retail, have begun to make a substantial contribution to its financial sheet.
Jio’s average revenue per user (ARPU) is expected to rise in the next quarters due to the recent increase in cellular tariffs.
Ganesh Dongre, Anand Rathi’s Senior Manager of Technical Research
The technical chart for Reliance’s share price indicates an optimistic outlook. Dongre stated, “We might anticipate the Sensex heavyweight to touch ₹3,150 to ₹3,200 very soon if it closes over the ₹3,000 level today.
It is recommended that reliance shareholders hold their shares with a stop loss set at ₹2,900 per share. One can increase a trailing stop loss from ₹2,900 to ₹3,000 per share mark for ₹3,400 per share goal if the stock reaches a new high. In the foreseeable future, new investors can purchase Reliance shares at the current market price of ₹3,200 per share, according to Dongre.
