The current rally in the shares of Reliance Industries will continue even further. According to analysts, this stock can rally further up to 14 percent from the opening price on Wednesday (22 September 2021). The stock has gained 7 per cent so far this month. It is clear that the momentum will remain upwards in this stock which started in July. There is a lot of enthusiasm among analysts regarding the stock of Reliance Industries. He believes that this stock can also cross the level of Rs 2700.
The value of the shares of Reliance Industries has not been fully unlocked yet. It is believed that its retail business is going to grow well and due to this the shares of the group can go a long way. Reliance Digital’s IPO may also come. Because of this, there is a possibility of good growth in the shares of this company of Mukesh Ambani. At present, this stock is trading at Rs 2430. Many brokerage firms have expressed the possibility of good growth in this stock. Accordingly, the rating and target price have been given.
Sharekhan – BUY
Target Price – Rs 2,700
According to analysts of Sharekhan, the recovery in the earnings of Reliance Industries will continue continuously. In fact, the company’s shares are set to rise due to recovery in margins from oil to chemical business, increase in telecom tariff rates and high growth prospects in retail and new sources of revenue in broadband service and new commerce. With the company’s plan to make a big investment in clean energy, the shares can give a lot of value in the long term. The company can also benefit from the government’s PLI scheme.
ICICI Direct – HOLD
Target Price – Rs 2,480
Analysts at ICICI Direct say that the company’s consumer business may pick up and this will take its growth forward. The company balance sheet is very strong after raising funds. Also, due to its traditional business, cash flow can remain good. Reliance has recently invested in many small companies and start-ups. Analysts of ICICI Direct are considering it quite positive. In the last five years, the company has invested about Rs 15,000 crore. With this, the company will get more opportunities in business and will be able to fulfill its goal.
Stock Tips: Invest in these four stocks including Reliance and Titan, you will get great returns amidst uncertain global conditions
Bonanza Portfolio- BUY
Target Price – Rs 2750
Vishal Wagh, Research Head, Bonanza Portfolio, believes that on the technical front, the stock of Reliance Industries can go up to Rs 2750. This could prove to be the next market mover. Reliance has given a breakout around Rs 2340. It seems to be consolidating between 2380 to 2455 at present. The technical formation that seems to be forming in this stock seems to be taking it towards Rs 2750.
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