RIIL share price: Shares of Reliance Industrial Infrastructure (RIIL) surged almost 9% in morning trade on the BSE on Wednesday, 7 October, defying weak stock market sentiment. Reliance Industrial Infra share price opened at ₹682 against its previous close of ₹680.55 and jumped as much as 8.7% to an intraday high of ₹740, looking set to extend gains for the second consecutive session. On the other hand, equity benchmark Sensex declined by 0.75% during the session.
The stock surged on Wednesday, with trading volume more than 5 times higher.
Reliance Industrial Infra share price trend
The stock is down 13% year-to-date, largely in sync with a 14% decline in the equity benchmark Sensex. It hit a 52-week high of ₹963.65 on 8 October last year and a 52-week low of ₹620.50 on 30 March this year.
On a monthly scale, the stock is up 6% so far in October after a 10% decline in September.
RIIL’s latest financial results
On 15 July, RIIL said its total income declined 18.4% year-on-year (YoY) to ₹14.92 crore in Q1FY27 from ₹18.28 crore for the same period, following the completion of certain fixed-term contracts. Net profit for the quarter declined 8.4% YoY to ₹2.84 crore from ₹3.10 crore in the same quarter last year.
Can Reliance Industrial Infra stock rise further? Experts decode
According to Aditya Thukral, founder and analyst at AT Research and Risk Managers, Reliance Industrial Infrastructure has been in a corrective mode since the formation of multi-year highs in January 2024.
The correction seems to be still ongoing, and the prices are expected to approach fresh 52-week lows in the months to come.
“All the rallies will continue to get sold off till the time another leg of correction is completed on the downside. The stock is trading below all the major EMAs and is now approaching a resistance zone, which could be an exit opportunity for longs,” said Thukral.
“The stock is in corrective mode, which is expected to continue for some more months before the stock can find a bottom. Existing investors should try to exit near the resistance zone of ₹720 to ₹780. Fresh longs should only be executed once we start getting clues of completion of the correction,” said Thukral.
Vipin Kumar, AVP-Research at Globe Capital Market, underscored that RIIL started a bounce back rally from the price support zone of ₹650- ₹600 levels.
He believes the ongoing bounce back is likely to face resistance around ₹785- ₹800 levels.
“A decisive close above ₹800 will be a positive development that could lead the stock towards ₹900 in the medium term. Immediate downside supports are still placed around ₹650,” said Kumar.
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