RIIL shares zoomed 10% today; will this strong upmove continue?

Shares of Reliance Industrial Infrastructure Ltd (RIIL) surged 10.01 per cent to hit a high of Rs 1,047.20 in Thursday's trade. The stock erased a significant chunk of its gains as the session progressed and was last trading 3.44 per cent up at Rs 984.65. At this price, RIIL has slipped 17.93 per cent in six months.

Analysts said the stock appears bullish but technical charts indicate it is currently trading in the overbought zone. Immediate resistance is seen in the Rs 1,050–1,100 range, with one analyst advising profit booking at current levels.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted that RIIL witnessed a strong upward move after a prolonged phase of consolidation. "The broader outlook stays bullish, with the support zone now revised to Rs 960–950. On the upside, intermediate resistance is anticipated around the Rs 1,100–1,140 range," he added.

Jigar S Patel, Senior Manager (Technical Research Analyst at Anand Rathi), said, "Support will be at Rs 975 and resistance at Rs 1,050. A decisive move above Rs 1,050 level may trigger a further upside towards Rs 1,100. The expected trading range will be between Rs 950 and Rs 1050 for the short term."

Sebi-registered independent research analyst AR Ramachandran mentioned that the stock is bullish but overbought on daily charts with strong resistance at Rs 1,050.  "Investors should be booking profits as a daily close below support of Rs 954 could lead to a downward target of Rs 837 in the near term," he added.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-day and 150-day simple moving averages (SMAs) but lower than the 200-day simple moving average (SMA). Its 14-day relative strength index (RSI) came at 69.57. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-earnings (P/E) ratio of 145.40 against a price-to-book (P/B) value of 3.46. Earnings per share (EPS) stood at 6.76 with a return on equity (RoE) of 2.38. According to Trendlyne data, RIIL has a one-year beta of 1.9, indicating high volatility.

RIIL is mainly engaged in the business of setting up and operating industrial infrastructure. RIIL is led by Mukesh Ambani, the chairman of Reliance Industries Ltd (RIL). As of March 2025, promoters held a 45.43 per cent stake in the company.