Reliance Industries Ltd. rose ~6% after its board of directors agreed to undertake a Scheme of Arrangement (Scheme) to transfer Gasification Undertaking to a wholly-owned subsidiary.
As the hydrogen economy grows, it will be ideally positioned to be the first to develop a hydrogen ecosystem. The Scheme's implementation date is set for 31 March 2022.
We are optimistic on Reliance prospects and we had given buy last time at 1800 level and we are fully confident that it will touch 4000 mark. Do not read too much in annuling of Reliance - Aramco deal. Reliance was in slumber for full 10 years and now it has woken and thus it will be in uptrend atleast for next 10 yrs.
If you are a new trader, start small and this can be done in Bank Nifty Options trading with even a small capital of Rs 5000.
