RIL hits over 2-month high on Sebi nod to Future Group-Reliance Retail deal

Shares of Reliance Industries (RIL) extended their winning run to the fourth straight day, up 3 per cent on the BSE, to hit an over two-month high of Rs 2,110 in Thursday’s early morning trade. The stock was trading at its highest level since October 23, 2020. It hit a record high of Rs 2,369, on September 16, 2020.

Despite a run-up of 14 per cent from its low of Rs 1,856 touched on December 21, the stock has underperformed the market and fallen 1 per cent in the past three months as against a 23 per cent rally in the S&P BSE Sensex.

According to a Press Trust of India report, market regulator Securities and Exchange Board of India (SEBI) gave a go-ahead on Wednesday to Future Group’s scheme of arrangement and sale of assets to Reliance,