Analysts attribute the company's poor show in the bourses to its lack-lustre financial performance in recent quarters
The Rs 1,190 level holds the key for Reliance long-term trend; break and sustained trade can open the doors of a likely fall below Rs 1,000-mark, suggests technical charts.
The share price of Reliance Industries had cooled-off from its all-time high as a delay in the possible IPOs of Jio and/or Retail led to reduced excitement towards the stock.
Reliance stock is down nearly 22% from its record high; historically, in the past decade, barring the 50% fall during Covid-19 sell-off, RIL stock has bounced back after a 21% correction.
After a challenging week for investors in Indian bourses, the markets finally turned positive on Monday, surging up to 1,137 points or 1.43 per cent and reclaiming the 80,000 mark at 80,539 levels
Here is the complete list of companies whose shares will turn ex-date next week along with their respective corporate announcements, and other key details
Reliance could seek support around its 100-WMA in the run-up to the bonus record date; Whereas, PNC Infratech too has witnessed a 'Death Cross' and could slide another 21% from here on.
RIL share price: Some brokerages have also cut Reliance Industries (RIL) share price targets, factoring-in the sluggishness seen in oil-to-chemical (O2C) and retail verticals
As traders await bonus share record date announcement; technical chart shows that Reliance stock has strong support at Rs 2,640 its 20-MMA - a key moving average the stock has held since June 2023.
At 6:33 AM, GIFT Nifty Futures were trading 30 points higher at 25,251, suggesting a higher start for Indian markets.
Reliance Industries stock traded below the 200-DMA in Navratri 2023, and has now once again slipped below the key long-term moving average after almost a year. Check key support levels for RIL here.
RIL share: A total of 13.82 million RIL shares, valued at over Rs 3,000 crore, traded on both the NSE and BSE today
The index heavyweights that pulled the BSE Sensex down in terms of contribution to the index included SBI, Reliance Industries, HCL Tech, ICICI BANK, Larsen & Toubro, and Infosys fell up to 1 per cent
Share market today: Mixed Asian markets, RIL getting PLI approval for full 10 GWh battery making facility, crude oil falling 1% below $74, and Raymond Lifestyle IPO, are among triggers that will be on
Stock market today: Indian equities are expected to open flat; India's Q2 GDP, Dow Jones hitting life high, Baazar Style IPO on radar
The AGM of Mukesh Ambani-owned RIL will begin today at 2 PM IST. Analysts anticipate a range of significant announcements at the 47th RIL AGM
Technical Outlook on RIL ahead of Thursday's AGM: Reliance stock can potentially surge to Rs 3,405 on the upside, suggests chart. Key support for the stock stands at Rs 2,975.
Latest readings of the US Federal Reserve's inflation data, RIL AGM, Q1 GDP data in focus during the week
At 6:31 AM, GIFT Nifty futures were up 197 points, trading at 24,299.5, indicating a robust gap-up opening.
IPO moves and new energy clarity: Key upside risks for the conglomerate