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RIL snaps 6-day losses ahead of result; up over 1%

Shares of the country's most valued firm rose 1.55 per cent to an early peak of Rs 984.80 on BSE. In the last six trading sessions, the stock shed nearly 6 per cent.

Shrugging off the six-day losing streak, corporate bellwether Reliance Industries (RIL) on Friday went up 1.55 per cent on the Bombay Stock Exchange in early trade on expectations of robust third quarter numbers to be announced later on Friday.

Shares of the country's most valued firm rose 1.55 per cent to an early peak of Rs 984.80 on BSE. In the last six trading sessions, the stock shed nearly 6 per cent.

In a similar fashion, the stock climbed 1.55 per cent to Rs 984.95 on the National Stock Exchange in morning session.

"We expect the company's top-line to increase by 20.2 per cent y-o-y during the quarter, largely on account of increased refining and petrochemical product prices. We maintain our positive outlook on the stock," Angel Broking said in a note.

On the volume front, over 13 lakh shares of the company were traded on the bourses within the first one hour of trade.

The rise in the heavyweight RIL, which carries the maximum weight in the Sensex, helped the broader gauge in cushioning its losses, which was quoting at 18,978.05, down 68.49 points at 10.22 am.