Reliance Industries hits record high of Rs 2,394; rallies 15% in one month

The stock hit a record high of Rs 2,374, up 3.5 per cent on the BSE in intra-day trade on Friday.

Reliance Industries (RIL) shares hit a new intra-day high of Rs 2,394.3, up 4.3 percent on the BSE on Friday, surpassing its previous high of Rs 2,368.80, set on September 16, 2020, ahead of the introduction of the JioPhone Next smartphone. Compared to the S&P BSE Sensex’s 0.48 percent gain, the shares closed at Rs 2,388 a share, up 4%.

On reports that the country’s most valuable company, in terms of market capitalization, is looking to acquire Europe’s largest solar panel maker. The stock of the country’s most valuable corporation has risen 5% in the last three trading days.

Reliance Retail Ventures (RRVL), a subsidiary of RIL, announced in a separate regulatory filing that it had gained sole control of Just Dial with effect from September 1, 2021, and now owns 40.98 percent of the local search engine.

On July 20, 2021, RRVL used the block window facility to purchase 13.1 million equity shares of Just Dial worth Rs 10 each from VSS Mani on the stock exchange floor for Rs 1,020 per equity share.