RIL Share target Price: Brokerage houses are positive about the shares of the country’s largest company Reliance Industries and are currently advising to buy these shares. According to Jefferies estimates, Reliance shares can give returns of up to 35 per cent from the current level. Jefferies has given a target price of Rs 3450 on Reliance shares. According to Jefferies, margins in Reliance Industries’ petrochemical industry will improve in the coming months. Apart from this, the company is also going to increase the tariff of Jio this year, so that its profits increase. Fast consolidation is coming in the telecom industry which will be beneficial for Reliance.
The stock gained momentum on Wednesday after Jefferies assigned a buy rating on Reliance. Till the writing of the news, it was trading at 2563 with a gain of 0.22 per cent at 3 pm. Fifty two week high of this stock was Rs. 2755 while the 52 week low was Rs. 2180. In the last one year, the share of Reliance Industries has decreased by Rs 20, while since January 2023, this share has decreased by Rs 10. Reliance’s stock has declined by Rs 18 in the last six months.
In the base case, Reliance Industries shares rose 22 per cent to Rs. Can go up to 3125. The risk reward ratio for the stock is favorable and the five year EBITDA growth is 16%. Reliance Industries share is likely to go up to 3450 in case of a boom in the market. Jio is likely to be listed by Reliance in the near future, which will bring out its valuation and Reliance Retail is also rapidly increasing its market share. Jefferies recently met with investors from the energy and chemical sectors during a roadshow in the UK.
Jefferies said the focus of investors is on earnings growth. According to Jefferies, the expansion of Jio Broadband will increase the margin of the company. Reliance is likely to get around 100 million potential broadband customers in the near future. Jio has achieved 55 percent incremental market share in adding broadband customers.
Since the start of the Russia-Ukraine war, India has increased imports of Russian oil due to its cheapness. Russian oil accounted for 45 per cent of India’s oil imports in May. Petrochem’s margins are improving due to inventory correction. Along with this, demand has increased in China.
