RELIANCE

RELIANCE INDUSTRIES | Monday Watch

Nifty snapped its five-day winning streak on Friday, closing at 24,013, dragged down by a brutal IT sell-off, even as it held above the key 24,000 mark on a weekly basis. The headline event: Reliance's 49th AGM on Friday saw Mukesh Ambani confirm that Jio Platforms has officially filed its DRHP with SEBI — paving the way for what could become India's largest-ever IPO. The telecom arm could be valued between $133-180 billion. The stock has corrected sharply from its January high of Rs 1,611.80, recently forming a base near its 52-week low zone before rebounding nearly 6% over the past three sessions on IPO optimism. With technical indicators showing the stock breaking above its medium-term falling channel, Reliance could be one of the most-tracked counters heading into Monday's session.