Stocks News

SEBI approves Future Group Deal – Reliance Share price jumps 2%

The Reliance company obtained the Securities and Exchange Board of India’s approval on its deal with Future Group.

Future Group is led by billionaire businessman Kishore Biyani who is the founder and CEO of the group.

After this deal, the share price of Reliance Industries jumped up at nearly 2 percent. The Reliance Industries had been witnessing a very narrow performance on the index.

After this deal, the company has broken its own record trading above the trend-line pillar.

Reliance industries reported Rs 2,080.50 on the BSE index. This value is up Rs 25.80, or 1.26 percent which is a positive outcome.

RIL is trading below its 52-week high at 12.17 percent and 139.84 percent above its 52-week low.

On September 16, 2020, the share price touched the 52-week high at Rs 2,368.80. The 52-week low was Rs 867.45 on March 23, 2020, as per the data charts.

The Reliance company’s stock has outperformed in the recent days hitting above the 21 and 50-day averages on a daily basis.

With a bullish crossover on a daily scale, the RIL share is currently trading above 55 points. The momentum oscillator RSI (14) has given horizontal trendline blow up placed near 50 levels.

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