After a 12% jump, analysts give 4 reasons Reliance can rise
Monday's rally was the stock's biggest one-day gain since April 2020; brokerages point to volumes, short covering, results and the Jio listing
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Reliance Industries shares jumped 12% on Monday to close at ₹1,300, their biggest single-day gain since April 2020, The Economic Times reported.
The rally added nearly ₹2 lakh crore to its market value, though the stock is still down more than 17% this year.
Analysts at SAMCO, Geojit, Jefferies and Nomura cite a volume breakout, short covering, strong results and the Jio Platforms listing.