In the latest updates from the stock market, Reliance Industries has captured substantial attention with its share price climbing by an impressive 3% during morning trading on Tuesday. This surge has positioned the company as a significant player in the ongoing rally within the Indian stock market, which resumed operations following an extended weekend break.
Reliance Share Price Performance
The opening of Reliance shares on Tuesday saw them priced at ₹1,256, marking a notable increase from the previous close of ₹1,219.30. This uptick comes after a concerning dip to a 52-week low of ₹1,115.55 just a few days prior, attributed to worries over U.S. tariffs. In the past week alone, Reliance’s shares have gained nearly 8%, demonstrating a strong recovery. However, it’s essential to note that the current price is still significantly lower than the 1-year high of ₹1,608.95 reached in July 2024.
Key Factors Influencing Reliance’s Rally
Several encouraging developments are influencing Reliance’s stock movement. The recent halt in tariff implementations by the Trump administration for 90 days has alleviated some global recession fears, positively impacting investor sentiment. Furthermore, Reliance Industries made headlines by completing the acquisition of an additional 10% equity stake in Nauyaan Shipyard Private Limited. This strategic move, finalized on April 11, involved a total investment of ₹51.72 crore from Welspun Corp Limited, and is expected to bolster Reliance’s portfolio.
Analysts’ Forecast
Looking ahead, analysts from Elara Capital are optimistic about Reliance Industries’ financial outlook. For the quarter ending in March 2025, they project a 3.5% year-on-year increase in consolidated EBITDA, driven primarily by a hike in telecom tariffs and a resurgence in retail operations.
In conclusion, Reliance Industries’ recent market performance and strategic acquisitions are playing a pivotal role in shaping investor confidence, making it a stock to watch closely in the coming weeks. For more detailed insights and updates, consider following reliable financial news platforms.
