Shares of Reliance Industries Limited (RIL) continued its rally for the seventh consecutive day on Thursday with the stock surging around 15% in the seven trading sessions amid optimism about its future performance. The company’s market valuation crossed the ₹14 lakh crore mark in early trade.
The stock has been on the gaining mode after global brokerage firm Jefferies raised its target price in the oil-to-telecom behemoth. The brokerage maintained its ‘Buy’ rating with setting the base target at ₹2,580 and suggested an upside scenario target of ₹3,150 for the stock.
The stock had hit an all-time high of ₹2,368.8 apiece on September 16, 2020.
