International Brokerage Firm UBS has Upgraded Rating of Mukesh Ambani Led Reliance Industries Limited from Neutral To Buy. It says that it can Achieve the Target of Rs 2,500. Analysts of UBS in a report tells that All three Area of Reliance Energy, Retail, and Jio are on the Path of Development. Currently, the Share Price is Trading at Rs 2,050.
Target Price Set to Rs 2,500
According to UBS, Improvement in the Demand of Energy, Ramp Up of Digital Platform, Opening of New Stores and Launch of JioPhone Next will Increase the Chance of Development for Reliance. Due to These Reasons, UBS has Upgraded the Ratings of Reliance from “Neutral” to “Buy”. The target price was set to Rs 2,500.
Also Read- Jiophone Next
Due to the Recovery in Refining Margin Oil to Chemical Business Will move at a Faster pace in FY2024. In the Current Financial Year Relinace can complete the Strategic Partnership with Saudi Aramco. Due to this Reliance will get help in getting the Investment of 10 Billion Dollars in New Energy. However, No Information is Available regarding the Valuation and Conditions of this Deal.
UBS Thinks that the Launch of JioPhone Next and Bundled Plans with Cheaper Tariffs can boost the Telecom Business of the Company. It is Predicted that the Average Revenue Per User (ARPU) of Jio will Increase by 8-10% on Year on Year (YoY) Basis.
Business Tycoon Mukesh Ambani is Planning to Stregthning their Hold in Retail Business. According to Sources, Reliances can Soon Purchase Just Dial. This DEal can Happen in 80-90 Crore Dollar.
In This July Month Reliance fell down by 2.91% and Currently, it is trading at Rs 2,307. In 2021 Share Price of Reliance Underperformed its Benchmark Nifty-50. This Year Nifty-50 Increases by 12.44% or 1,744 Points. Whereas Share Price of Reliance Increased by only 2.49% or 49.50 Points.