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Reliance Industries share price at record high, mcap over Rs 19 lakh crore; should you buy, sell or hold-

时间:2024-09-29 04:53:57 阅读（143）

Reliance Industries share price at record high, mcap over Rs 19 lakh crore; should you buy, sell or hold?

Reliance Industries (RIL) share price crossed another record high on Wednesday with the stock touching Rs 2827.10 a piece for the first time. The market cap also crossed Rs 19 lakh crore for the first time in early trading on Wednesday. The company is firing on all cylinders right from its petrol chemical business to telecom business, analysts said. Experts are bullish on the stock and see the stock heading towards Rs 3,000 apiece mark, implying a potential rally of 6 per cent more from current levels. The stock is up 1.7 per cent in the last five trading days. BSE Sensex is down 3.7 per cent YTD and in comparison RIL stock has jumped 17 per cent YTD, outperforming the benchmark index.

“The stock is at 52-week high again after a follow through move post a major double top breakout above Rs 2,750. One can stay invested in the stock; maintaining a trailing SL (stop loss) of 2Rs ,730,” Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services, told FinancialExpress.com.

“Reliance Industries is firing on all cylinders because its petchem business is doing extremely well on the back of a surge in Oil and Gas prices where Singapore GRM is at an all-time high. Its telecom business is unaffected by geopolitical tension and inflation whereas it is exploring synergies in its retail business. It is continuously expanding its path in the renewable energy business, opening more opportunities for the company,” Santosh Meena, Head of Research, Swastika Investmart Ltd said.

“Technically, it created a strong base at the 2,250 mark then witnessed a smart rally where it has broken out of falling channel formation which is leading to fresh bullish momentum. On the upside, it has the potential to move towards the 3,000 mark. On the downside, 2,500 should act as an immediate and strong support level,” Meena added.

The stock could see an upside of over 5.5 per cent from Tuesday’s close at Rs 2,930 apiece in coming days, R Ramachandran, Co-founder & Trainer, Tips2Trades said. “Technically, a sustained close above 2,775 could eventually lead to a target of 2,930 in the coming days. 2,680 now acts as a good support,” he said. “Steady petrochemical margins coupled with strong margins in both retail & telecom business expectations have led Reliance industries stock price to an all time high,” he added.

The stock recommendations in this story are by the respective research analysts and brokerage firms. Financial Express Online does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor befor

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上一篇：AMC”.

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In its consultation paper, Sebi has suggested that trustees of mutual funds should focus on market abuse by AMC, its employees and mis-selling by the AMC to increase the asset base.

Also, trustees should be responsible for fairness of fees and expenses charged by the AMC, compare its performance with peers and ensure that AMC’s sponsor is not getting any undue advantage.

In addition to the core areas, the trustees should be responsible for periodically reviewing the steps taken by AMCs for the folios which do not contain all KYC attributes with bank details.

Further, Sebi has suggested that trustees and their resource persons should independently evaluate the extent of compliance by AMC and not merely rely on AMC’s assurances.

To facilitate trustees’ supervision, AMCs should provide them with analytical information.

Presently, the trustees primarily rely on the AMCs for ensuring compliance with the applicable rules.

Under the rules, trustees hold the property of the mutual fund in trust for the benefit of the unitholders. The trustees appoint an AMC to float schemes for the mutual fund and manage the funds mobilised under various schemes, in accordance with the investment objectives.

“In view of the increasing scale and reach of the mutual fund industry, trustees’ role in respect of unitholders’ protection assumes even greater significance,” Sebi said on Friday.

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