RIL up 4.7% after target price raised

The rally has also propelled the company to cross the Rs 4 lakh cr market capitalisation

Reliance unlikely to let $1.5 bn penalty hit shareholders

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Pavan Burugula Mumbai

Last Updated : Feb 28 2017 | 3:40 AM IST

Shares of Reliance Industries Limited (RIL) gained as much as 6.5 per cent on Monday after global brokerage Morgan Stanley raised its 12-month target price by 17 per cent to Rs 1,506.

Shares of RIL closed at Rs 1,238.6, up Rs 56 or 4.74 per cent. The target price given by Morgan Stanley is close to 21 per cent higher than the current share price of RIL.

This rally on Monday took the total surge in the stock to 13.7 per cent since February 21, when the Mumbai-based company announced its rate plans for its newly found telecom subsidiary Reliance

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