Reliance Industries GrowthThe emphasis on investment in new energy by Mukesh Ambani can give a new impetus to the growth of Reliance Industries. Due to this, the shares of Reliance Industries can grow up to 80 percent. Global brokerage firm Goldman Sachs has given a rating of ‘BUY’ to Reliance, predicting a tremendous increase in the shares.
The brokerage firm has estimated the bull running to continue in this and has kept its target price at Rs 4,400. Goldman Sachs says that solar, battery and hydrogen manufacturing seems to be booming around the world. There are similar possibilities in India as well. Therefore, Reliance Industries can benefit from this situation. The stock of Reliance Industries has risen 1.5 percent to Rs 2,454 on Thursday. It was the top gainer of the Sensex.
This stock can grow up to 30 percent from the current level
Goldman Sachs analysts have upgraded Reliance Industries shares to Rs 3185. This means that it will increase by 30 percent from the current level. According to Golden Sachs, Reliance’s shares can rise by 80 percent in the bullish market, it can reach Rs 4,400. In this situation, the valuation of Reliance’s new energy business can go up to $48 billion. In the bear market, this stock can fall to Rs 2,080. That is, a decline of 15 percent from the current level.
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New energy will give speed to the company
Reliance Industries has announced an investment of 75 thousand crores in New Energy this year. The company, which is engaged in the oil to chemical business, will set up four fully integrated factories for an end-to-end renewable energy eco-system. Goldman Sachs has said that investing in new energy can prove to be a growth driver for many decades ahead.
(Article: Kshitij Bhargava)
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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