Belrise Industries shares rally over 16% in 4 days to hit record high. What’s fuelling the surge

Shares of Belrise Industries soared 16.4% to a new all-time high of ₹119.2 on Friday, marking the fourth consecutive session of gains. The rally came on the back of a bullish initiation report from global brokerage Jefferies, which launched coverage on the stock with a ‘Buy’ rating and a price target of Rs 135.