Reliance Industries becomes top stock in Margin Trading Facility book
The company's MTF exposure rose 60 per cent to ₹4,711 crore, overtaking HDFC Bank for the highest position.
Reliance Industries shares remained in focus on Wednesday after the company became the stock with the highest exposure in the Margin Trading Facility (MTF) book, according to data from the National Stock Exchange (NSE) reported by Mint on November 2.
The company's MTF exposure increased by 60 per cent to ₹4,711 crore from ₹2,937 crore at the end of October 30. This rise allowed Reliance Industries to overtake HDFC Bank for the top spot in the MTF book.
The total MTF book reached ₹1.45 lakh crore, with the top 10 stocks representing ₹19,442 crore of that value. Reliance Industries accounted for 24 per cent of the exposure within those top 10 stocks following its rally on Monday.
The company reported a consolidated profit after tax of ₹29,550 crore in Q2 FY27, a 33.8 per cent year-on-year increase from ₹22,092 crore in the same period last year. Consolidated revenue grew 27.8 per cent to ₹3,62,268 crore.
Apurva Sheth, Head of Market Perspectives and Research at SAMCO Securities, said the stock broke above a downward sloping trendline, suggesting selling pressure may be giving way to buying interest.
Gaurav Garg, Head of Research at Lemonn, recommended that investors hold existing positions and wait for a breakout above ₹1,250–₹1,252 before fresh buying. Meanwhile, Motilal Oswal maintained a buy rating with a target price of ₹1,520.