Reliance Industries’ stock reaches a five-month high of Rs 2,693

Reliance Industries shares hit a five-month high of Rs 2,693 after surging 3% on the BSE. The stock of the country’s largest publicly traded company rose for the third day in a row, gaining 5.4 percent during the period. Reliance’s entry into the gifting segment represents a significant opportunity because the segment is largely unorganised, with only a few organised players having a pan-India presence.

Reliance Retail intends to enter the artefacts market. The first of its artisan-centric stores, dubbed ‘Swadesh,’ will open in Delhi’s Connaught Place neighbourhood. RIL has a ‘Buy’ rating from analysts, with a target price of Rs 2,765 per share. The telecom industry’s subscriber mix is improving, according to a brokerage firm.