Reliance Industries Shares: In fact, after the Hindenburg report came in the Adani case, a period of heavy decline started in the market. In this, along with the shares of Adani Group, big stocks like SBI, LIC, Reliance also started getting beaten up.
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Investors of the country’s biggest business house Mukesh Ambani and his biggest company Reliance Industries are not having a good day. Many months have passed but the stock of Reliance Industries which once crossed 2800 is not able to reach there. Far from crossing 2800, this stock is hesitating in the range of 2200 to 2400 for the last 2.5 months.
In fact, after the Hindenburg report came in the Adani case, a period of heavy downfall started in the market. In this, along with the shares of Adani Group, big stocks like SBI, LIC, Reliance also started getting beaten up. However, a gradual recovery started in Adani’s shares. It is not that since January 24, Reliance’s stock has also shown recovery, but still it has not been able to reach its 52-week high.
Journey from 2855 to 2284
Last year, on April 29, 2022, the stock of Reliance Industries went up to the level of 2855, which was the company’s 52-week high. Since then till now the stock of the company has not reached anywhere near 2800. In Tuesday’s trading session too, the stock of Reliance Industries registered a decline and it has come down to around 2278. Now in such a situation, investors are bound to be worried as to what should be done with the Reliance stock next.
what do experts say
According to market experts, short term decline is being seen in the stock of Reliance, but in the long term it is a horse of a long race. In fact Adani-Hindenburg, global sentiment and the sinking of Silicon Valley Bank in the latest developments. These are some of the reasons which have created a ruckus in the world market and its effect is visible on the Indian market as well.
According to AK Prabhakar, Head of Research, IDBI Capital Markets, the fall in Reliance Industries shares is short term which is visible due to weak global cues and week GRM. The stock remains strong in the long term. Reliance stock will bounce back. However, new investors should wait till May.
