Reliance Industries advanced 2.49% to Rs 2,786.05, extending gains for third day.
RIL's current market capitalization stood at Rs 18,84,100.10 crore.
Shares of RIL have surged 9.52% in three sessions, from its recent closing low of Rs 2,543.85 recorded on 18 April 2022.
In the past one year, the stock has surged 46.34% while the benchmark Sensex has added 21.34% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 70.329. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 2474.59, 2444.06, and 2397.34, respectively.
RIL shares are in demand amid expectations of strong Q4 numbers backed by firm crude oil prices. Investors are expecting a big improvement in GRM (gross refining margin) in the recently ended March 2022 quarter.
In a regulatory filing made today, Reliance Industries said that Reliance Brands has signed a definitive agreement to invest in Abu Jani Sandeep Khosla (AJSK) for a 51% majority stake. The strategic partnership is aimed at accelerating the 35-year-old couture house's growth plans in India and across the globe.
Based in Mumbai, Abu Jani and Sandeep Khosla are India's premier couturiers their design legacy began in 1986. Their couture label Abu Jani Sandeep Khosla is internationally. They are best distinguished for introducing Mirrorwork, Crushed Cotton and Silk, Chikankari and Khadi as couture.
Their fashion house Abu Jani Sandeep Khosla currently features three other labels, ASAL by Abu Sandeep, a diffusion, formal, occasion and wedding wear, womenswear label, GULABO by Abu Sandeep, luxe pret separates, featuring casual and formal wear for women and MARD by Abu Sandeep, a formal and occasion wear men's label.
Reliance Brands is a subsidiary of Reliance Retail Ventures, which is a subsidiary of RIL.
Reliance Industries, India's largest private company, is engaged in activities spanning across hydrocarbon exploration and production, Oil to chemicals, retail, digital services and financial services.
On consolidated basis, the company reported 41.6% rise in net profit to Rs 18,549 crore on 57% increase in net sales to Rs 1,85,027 crore inQ3 FY22 over Q3 FY21.
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