RIL stock hit a two-month high in mkt weak; Rise 12% in 2 weeks

Shares of Reliance Industries (RIL) hit a two-month high of Rs 2,513.50 after shares surged 2 per cent on the Bahrain Stock Exchange in daily trading on Tuesday. The stock was among the top gainers on the S&P BSE Sensex, which was down 0.33 percent at 57,104 points at 10:02 a.m.

RIL’s stock, which reached its highest level since January 19, 2022 today, hit a record high of Rs 2,750 on October 19, 2021. In the past two weeks, RIL has outperformed the market with a 12 per cent rise compared to a 7 per cent rise in the benchmark index.

On Sunday, 20 March 2022, Reliance Retail Ventures (RRVL), a subsidiary of RIL, announced the acquisition of an 89 per cent stake in Purple Panda Fashions for Rs 950 crore, which owns and operates the Clovia business, through the purchase of the secondary and primary stake. investment.

Clovia is India’s leading D2C brand that is democratizing aspirational lingerie and sleepwear for millennial women. With this acquisition, RRVL will strengthen its portfolio in the underwear segment, having already acquired the Zivame and Amante brands.

according to business standard In the report, lenders to distressed textiles firm Sintex Industries approved a dissolution plan jointly submitted by RIL and Assets Care & Reconstruction Enterprise Ltd (ACRE). Click here for the full report

according to Economic times In the report, Reliance Jio is considering raising about $750 million (about Rs 5,700 crore) through an external syndicated loan to primarily fund future capital expenditure needs.

RIL is one of the largest conglomerates in India with presence in refining and marketing, petrochemicals (O2C), oil and gas exploration, retail, digital services and media, etc. making it a well diversified business entity. At the EBITDA level of 9 million FY22, O2C and oil and gas contributed 50 percent while retail, digital and others contributed 10 percent, 34 percent and 6 percent, respectively.

ICICI Securities expects Jio subscriber addition traction to recover as JioPhone Next rebounds while the benefits of the ARPU increase will materialize over the next two quarters. EBITDA for digital services is expected to grow at a compound annual growth rate of 19 percent in fiscal year 21-24E. In retail, the strong trajectory of store addition continues, and the EBITDA is expected to reach a compound annual growth rate of 36 percent in fiscal year 21-24E.

‚ÄúStable cash flow from the O2C segment is expected to continue as we appreciate stability in gross refining margins (GRMs) and rising global gas prices bode well for the oil and gas exploration sector. A strong balance sheet after fundraising supports the company’s significant expansion in new energy vertically, The brokerage said in February with a target price of 2,670 rupees per share.


technical offer

Bias: Positive

Target: 2,714 rupees

higher: 8%

The stock settled above the 100-DMA (Daily Moving Average), at Rs 2,420, for the third trading session in a row, which is a positive sign. The stock is currently testing resistance at the higher end of the Bollinger Band around Rs 2,518.

If the stock is able to breakout and close above this level, we could see further upside towards the Rs 2,600 level, of which the next target would be Rs 2,714.


The major momentum indicators are also in favor of the bulls on the daily chart, with the exception of the Slow Stochastic which is in the overbought territory.


(with input from Rex Cano)

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