Is this the right time to invest in Reliance Industries shares? Shares of Reliance have fallen more than 15 per cent in the last month and a half from above levels. On Thursday, RIL's stock saw pressure, but rose 0.87 per cent to close at Rs 2,029.05 at the end of trading.
Weak global signals led to heavy selling in the market on Thursday. Shares of RIL also touched a low of 2000 during trading. However, the closure was above Rs 2,000. For the first time since July, the stock had touched below Rs 2,000.
Let me tell you that Mukesh Ambani's company Reliance Industries crossed the Rs 2,000 level for the first time on July 22. However, since January, the company's stock has returned more than 33 per cent to investors.
Amid the Corona crisis, foreign investment in RIL led to a steady rise in stocks. Shares of RIL touched a high of 2,368.80 on September 16. Which is the highest level ever. The company's market cap also crossed Rs 15.40 lakh crore during the period.
Significantly, RIL is the largest company in the country in terms of market cap. Which is the only company in India to cross the Rs 15 lakh crore mark. But the stock has been under pressure since last month.
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