Reliance Industries Share Price can increase up to 50 percent from its current level. Global brokerage and research firm Jefferies has said that the group’s efforts to promote renewable energy, stake sale in the oil-to-chemical business and a possible IPO of Reliance Jio could see a tremendous rally in Reliance Industries’ shares. . The share price of Reliance Industries is currently Rs 2,108. Recently, Reliance Industries announced its entry into the renewable energy space. This initiative of Reliance can get a boost from government policies and capital subsidy scheme.
Reliance Group to invest Rs 75,000 crore in renewable energy sector
Reliance Industries has announced to invest Rs 75,000 crore in the renewable energy sector. Reliance’s balance sheet is very strong. Funds its capital expenditure in this sector in a better way. According to Jeffrey, the advantage that Reliance has gained in terms of cost per unit in the conventional energy business, it seems that Reliance can also get an edge in terms of cost per unit in the Reliance Energy business. Jefferies believes that Reliance Industries will also emerge as the most reliable company in renewable energy.
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Reliance Industries shares may reach Rs 3,150
According to Jefferies, Reliance Industries shares can go up to Rs 3,150 at the upper level. The current price of Reliance shares is Rs 2,108. This means it will increase by 50 percent. The brokerage house says that the sale of stake in the oil to chemical business. The increase in the tariff of Reliance Jio and its possible listing can strengthen its stock. A higher market share than expected of Reliance Retail will also strengthen its shares. If the ARPU of Reliance Jio decreases and the margins of the petrochemical business are reduced due to the pandemic, the shares of Reliance Industries may fall to Rs 1,850.
(The advice given in the story is that of the relevant research analyst and brokerage firm. Financial Express Online does not take any responsibility for this investment advice. Investing in the capital market is subject to risks. Please consult your advisor before investing.)
(Article: Kshitij Bhargava)
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