RIL in Wednesday's trade again hit a new high of Rs. 2368.8 shares apiece on the BSE, surging 2%. With it the conglomerate's m-cap is now has hit Rs. 16 lakh crore for the first time.
Since the start of the year, the company's shares have surged 54% after it has amassed a heavy sum post stake sale in its digital Jio Platforms.
As per a report, PSUs have been the biggest wealth destroyer so far this year.
In our view, valuations are less important except at extremes for certain stocks," the brokerage said in a note to investors, said Kotak Institutional Equities. And investors can consider some of these things on the counter as positive such as capital, scale and execution.