Reliance Infrastructure shares surged 12.37% to a 52-week high of Rs 320, lifting its market cap to Rs 12,622 crore. The stock has gained 50% in a week after the firm approved a Rs 3,014.4 crore fundraise through a preferential issue.
Additionally, the board greenlit seeking approval to raise up to Rs 3,000 crore via a QIP. Despite bullish momentum, analysts caution that the stock is overbought, with support at Rs 265 and resistance at Rs 308. Reliance Infra's high volatility and negative financial ratios signal cautious optimism.