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What's powering the rally in Reliance Industries' stock?

Another key reason for the recent stock surge, according to analysts at Jefferies, is the hope that the government may withdraw export duties on diesel and aviation fuel

Mukesh Ambani, Reliance Industries
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Mukesh Ambani, Reliance Industries

Puneet Wadhwa New Delhi
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

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First Published: Dec 01 2022 | 11:28 AM IST

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