 "Mukesh Ambani, Reliance Industries")
It has mostly been a one-way street for Reliance Industries’ (RIL) stock that has moved up nearly 7 per cent since November 25, 2022 to hit Rs 2750 levels now. The S&P BSE Sensex, during this period, has gained nearly 2 per cent, data shows.
So, what’s behind the rally in the country’s most valued firm by market capitalisation?
The recent surge in RIL’s stock price, according to A K Prabhakar, head of research at IDBI Capital is due to a clutch of reasons, which includes the proposal to demerge the financial services business into a separate entity, rollout of 5G services and oil prices coming down.
