Not all stocks rise as high as 50%. A rise of 50% is rare. There can be only one reason for such a rise – change in people sentiments. After all, a chart is a ‘sentiment’ line (at least in short-term).
So, what made buyers react positively? You will see in a while, but before…
You have to know in numbers the actual rise of RCom stock. On Monday (Dec 21), the 11.80 stock grew to 18.05 by 11 am of Thursday. The rise is more than 50%. If you invested 1 Lakh on Monday, your balance now would be 1,53,000. So what is the phenomenal reason for this rise?
A news caused the rise. The news was Mukesh Ambani’s RJio is planning to buy a considerable share of RCom.
When I started writing this news post, the price was at 18.05. The price just rose to around 19 and fell back to 18.8. So there is heavy trading going on. We have to wait and see to see if the momentum continues.