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Mr. Romesh Tiwari, Head of Research, CapitalAim on the AGM of Reliance Industries Ltd

Posted On: 2019-08-16 13:28:44

"Reliance can further move towards 1300 soon. Going by the track record of the management and potential of the retail and digital market of India, reliance's announcements will prompt a fresh rush of buying the stock that can take it to new highs in short term and may pass 2000 levels in next 12 months. Reliance's mega announcements effect on the market may contribute 50-60 points on Nifty and combined with expected relief from government on FPI taxation issue and stimulus measures for economy, we may see Nifty to test 11,200 today. On the other hand, the global market sentiments are negative, which may trigger selling in other stocks and neutralize the Reliance's effect on the market, so I will be cautious on the markets but definitely positive on Reliance."

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1288.3 as compared to the previous close of Rs. 1275. The total number of shares traded during the day was 785411 in over 24593 trades.

The stock hit an intraday high of Rs. 1304 and intraday low of 1280.1. The net turnover during the day was Rs. 1014360986.


Source: Equity Bulls

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