Will Reliance shares hit fresh record high soon? Here’s what experts say

Reliance Industries Limited shares have jumped sharply over the past few trading sessions. While it has pared some gains on Wednesday, analysts remain optimistic about its future performance. Will the stock hit a record high soon? Here is all you need to know.

Shares of Mukesh Ambani's Reliance Industries Limited (RIL) gained sharply on the stock market in the last four trading sessions of May. The oil-to-telecom giant’s shares gained over 10 per cent in these trading sessions after brokerage Jefferies raised its target price for RIL. Last Friday (May 28), Reliance shares closed six per cent higher on the Bombay Stock Exchange (BSE) at Rs 2,094.90. And on May 31 (Monday), Reliance shares hit an intraday high of Rs 2,191.5 after a 4.61 per cent rise on the BSE. On Wednesday, RIL was trading at Rs 2,170.55 per share on the BSE, up 0.11 per cent, at 12:40 pm. While it has pared some gains after rising sharply, analysts remain optimistic about its future performance.