Reliance Powering ahead : 31.05.2021
* Reliance Industries up over 5%, most in over 8 months
* Crossed above 50-DMA & 200-DMA
* Volume at 4x the 20-day average at this time
WHAT IS POWERING THIS MOVE?
* Surges over 5% on reports Petchem cycle is favoring earnings
* Bernstein says Petchem Ebitda can surge over 50% if current strength sustains
* Polymer spreads have surged to decade highs on good demand
• Stock has got attractive on valuations post recent correction/consolidation
* Improved Petchem fundamentals increases probability of 02C stake sale as well
• Could reverse 40% underperformance over Nifty
* Sets target at Rs 2,580/share
