Reliance Industries Ltd. (RIL) stock has increased by 12.36% in a year. RIL is very close to reaching its all-time high

Reliance Industries Ltd. (RIL) is very close to reaching its all-time high, Beginning in early 2024. On July 19, 2023, RIL shares reached an all-time high of Rs 2,635.17. It’s interesting to note that on March 20, 2023, the stock hit its 52-week low of Rs 2012.14. On January 5, the large-cap stock closed at Rs 2,606 level, up 0.36% from the previous finish of Rs 2597.40 on the BSE.

Since its 52-week low, the stock of Reliance Industries has increased by 29.51%. In a year, the price of RIL stock has increased by 12.36%.However, the share decreased 2.25 percent today as well. Experts say it’s too early RIL stock prices are getting close to a historical high.

Reliance Industries’ shares hit an intraday low of Rs 2597.95 on Friday during the most recent session. Reliance Industries’ market capitalization was Rs 17.63 lakh crore on the BSE. A total of 4.66 lakh shares of the company were traded on the BSE, generating a turnover of Rs 121.30 crore.

Related News on Reliance Industries Ltd. : TN will see more investments from Reliance Industries: The Mukesh Ambani

Reliance Industries’ Chairman and Managing Director, Mukesh D. Ambani, announced on Sunday that the company has committed to making fresh investments in Tamil Nadu’s renewable energy sector.
Additionally, Reliance Industries would open its brand-new data center, which was established in collaboration with US-based Digital Reality and Canada-based Brookfield Asset Management.

“Reliance has proudly partnered in Tamil Nadu’s growth over the years,” Ambani stated in his virtual speech during the Global Investors Meet 2024 opening session, which was organized by the Tamil Nadu government.

He stated, “We have opened nearly 1,300 retail stores across the state at an investment of over Rs 25,000 crore,” enumerating the company’s state investments. Jio has made over Rs 35,000 crore in investments in Tamil Nadu, enabling 35 million users in every town and village to benefit from the digital revolution.”

Reliance Industries Ltd. is partnering up with US-based Digital Reality and Canada’s Brookfield Asset Management to build a cutting-edge data center, which will open next week, he said. He did not provide specifics on the total amount of investments made at the facility or the anticipated location.

The businessman stated, “We shall work closely with the state government to promote sustainable development, which is necessary to save Mother Earth from the climate crisis,” noting that Reliance has committed to making new investments in green hydrogen and renewable energy in Tamil Nadu. I have faith that the state administration will provide workable policies to back our upcoming endeavors.”

Market News: For the Second Day in a Row, East West Holdings Shares Hit the Upper Circuit

Stock Market News: On Monday, January 8, 2023, shares of East West Holdings had a jump in volume of about 9.65 times, sending the stock up about 5% to reach the upper circuit. As soon as the market opened for trading, the counter—which has beaten the sector by 4.64%—hit the upper circuit.

Over the past three days, the stock has increased, yielding a return of 10.58 percent. The counter has reached the upper circuit for the second session in a row. Technically speaking, the East West Holdings share is currently trading above the moving averages of five, twenty, fifty, hundred, and 200 days.
Logistical services are provided by East West Holdings Limited. Founded in 1981, it is a top supplier of logistics solutions. The stock was up about 19.66% at Rs 6.94 at the close. The total amount exchanged was 16.75 lakh.

Foreign Institutional Investors (FIIs) maintain a large stake in the company. FIIs own a 6.78 percent share as of the September quarter of the fiscal year 2023–2024. The collective ownership stake of the company’s promoters is 61.28 percent. 31.94 percent of the shares are held by non-institutional investors (NIIs).

The company provides professionally managed one-stop global logistics solutions with reliability to maintain and enhance services at realistic costs. The company offers air freight services, sea freight services, rail freight services, road freight services and customs clearance.