RIL spurts on overseas buyout buzz

DALAL SREET SPIKES

Reliance Industries was the other big contributor in Wednesday's rally. Index heavyweight Reliance Industries ended 2.10 per cent higher at Rs 714.55 on back of strong volumes of more than 20.5 lakh shares on BSE alone.

According to market sources, there was strong buying at the counter by few informed players. The rumours doing round in the market is that Reliance Industries is likely to announce a big overseas acquisition in the next few days.

"The stock had corrected in the past few days and Wednesday's bounce back was purely on renewed buying interest," added a BSE broker.