RIL gains 11% in 2 days: What’s driving the rally?
New Delhi: Shares of extended the rally, climbing 5 per cent on Monday as an upbeat report by Jefferies bolstered the confidence in oil-to-telecom behemoth among investors. The counter had gained 6 per cent on Friday.
In its report, Jefferies expects 50 per cent upside in the refiner’s petchem Ebitda, if the prevailing momentum sustains. The brokerage added that sustained strong performance by the petrochemical vertical will improve the likelihood of O2C business stake sale in FY22.
The oil-to-telecom…
