Reliance Ind extends rally, surges over 5% in two days; stock hits new high

RIL has outperformed the market by surging 11 per cent in the past one month, as compared to 2.6 per cent rise in the S&P BSE Sensex

Shares of Reliance Industries (RIL) hit a new high of Rs 2,722, gaining 3 per cent on the BSE in Thursday's intraday trade, having surged 5.5 per cent in the past two trading days. On Wednesday, RIL's stock surpassed its previous high of Rs 2,620 touched on July 20 last year.

According to media reports, global brokerage firm Goldman Sachs has revised upwards its price target for RIL from Rs 2,660 to Rs 2,885, even as it lowered the Ebitda forecast.

Meanwhile, RIL has outperformed the market by surging 11 per cent in the past one month, as compared to 2.6 per