This Reliance Group stock is up 62% in 2 weeks to hit an 11-year high

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Reliance Industrial Infrastructure (RIIL) shares rose 19 percent to Rs 993.50 in intraday trading Wednesday on the BSE. Construction and engineering company Reliance Group was trading higher for the fourth consecutive day after rising 40 percent over the period.

In the past two weeks, the market price of RIIL has increased 62 percent from a level of Rs 613.85 on November 24, 2021. In comparison, the S&P BSE Sensex rose 0.43 percent over the same period. The share was trading at its highest level since July 2010. On October 31, 2007 it hit a record high of Rs 3,202.

The trading volume at the counter has more than doubled, with a combined 5.2 million shares, which make up 34 percent of the total capital of RIIL, which changed hands by 2:32 p.m. on the NSE and BSE.

As of September 30, 2021, Reliance Industries (RIL) held 45.43 percent of the shares in RIIL, according to the data on the participation pattern. Individual shareholders held 46.41 percent of the shares, while the remaining 8.16 percent was held by the corporations Corporate (2.76 percent), IEPF (1.41 percent), HUF (2.36 percent) and non-resident India or NRI ( 0.80 percent)).

RIIL is in the business of providing infrastructure facilities and support services, namely the transportation of petroleum products and raw water through pipelines, the rental of construction equipment and other support services.

The company’s main sales and profits are generated from services that are made available to RIL and its group companies. The company’s sales and profitability depend largely on the amount of services used by RIL and its group companies.

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