Will Reliance Industries maintain the momentum?

Shares of Reliance Industries hit a fresh seven-year high of ₹1,129.55 on Monday, extending its recent streak of outperformance. The stock has been outperforming the Sensex and Nifty ever since the company launched its telecom services under the Reliance Jio brand. Many brokerages have turned positive on the stock after its launch of Jio. Signals emanating from derivative trades also point at bullishness, with the Reliance October futures having already witnessed a rollover of 24 per cent from September series.