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Reliance Industries share price gains 3% in volatile market; here's why

RIL stock today touched an intraday high of Rs 1,772, rising 3.02% against the previous close of Rs 1,720 on BSE. The stock opened at Rs 1,739 and also hit an intraday low of Rs 1,712 today

twitter-logoBusinessToday.In | June 24, 2020 | Updated 15:38 IST
Reliance Industries share price gains 3% in volatile market; here's why
Currently, RIL stock trades mere 3.46% away from its all-time high of Rs 1,804.1

Reliance Industries Ltd (RIL) share price gained nearly 3% amid a volatile session on Wednesday on reports that conglomerate's MD and CEO Mukesh Ambani is talks for defining a strategic partnership with Saudi Aramco (Aramco).

After raising Rs 1.15 lakh crore from global tech investors, the oil conglomerate is in talks for defining a strategic partnership with Saudi Aramco (Aramco).

Currently, RIL stock trades mere 3.46% away from its all-time high of Rs 1,804.1.

RIL stock today touched an intraday high of Rs 1,772, rising 3.02% against the previous close of Rs 1,720 on BSE. The stock opened at Rs 1,739 and also hit an intraday low of Rs 1,712 today.

Reliance Industries share price is trading higher than 5, 20, 50, 100 and 200-day moving averages.

RIL stock has gained after 2 days of consecutive fall. The stock has delivered 7% returns in one week, 20% in one month and 14% year-to-date.

Market capitalisation of the firm stood at Rs 10.97 lakh crore as of today's session.

During the oil-to-telecom conglomerate's last year annual general meeting (AGM), Reliance Industries chairman Mukesh Ambani said they are working to complete contours of a $15-billion deal with Saudi Aramco. However, the company has not yet given a fresh any timeline for completion of the deal.

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