Reliance Industries hits 52-week high, here's why the stock is in focus
Reliance Industries share price: The stock rallied after the oil-to-telecom conglomerate announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL).
While the effective date of the demerger has been fixed as July 1, July 20 has been fixed as the record day for allocating shares of the new company. Image Source: Reuters