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RIL shares jump over 3 percent

November 9, 2009

Shares in Reliance Industries (RIL) gained 3.4 percent on Monday on a newspaper report that the country’s top listed firm was in acquisition talks overseas.

The Economic Times said the company was close to a nearly $6 billion acquisition and the likely target was the assets of petrochemicals firm LyondellBasell.

RIL closed at 2,024.5 rupees and was the top contributor to the Sensex’s rise of 340 points, which saw support from banking counters too.

Reliance shares have gained 4.8 percent in November, a tad better than the return of the BSE Oil & Gas index.

Do you think the stock has the potential to run up further?

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