Tuesday, June 11, 2024
Home News Reliance Industries shares trade near 52-week low. Jefferies has 'Buy' tag

Reliance Industries shares trade near 52-week low. Jefferies has ‘Buy’ tag

 

While there are growing concerns that a telecom tariff hike could happen only after the general elections in May 2024, global brokerage Jefferies said it could lead to a market share grab and in theory create an effective monopoly that would add could 93 per share upside potential.

“While we cut Reliance Jio estimates by 1-6% for delay in tariff hike, we reiterate Buy rating as Reliance Industries Limited (RIL) offers 36% upside to our revised target price. 3,060 and 28% upside even if the tariff hike does not materialize till March 2025,” the note said.

“Following our recent note addressing key investor concerns on RIL, which addressed key concerns on capex, leverage and slowing growth in retail, we look at key investor concerns on RIL’s telecom operations in this note. In our recent conversations, the delay in the timing of the tariff hike – potentially after the general election in May-24, has been cited as a major concern on Reliance Jio, apart from increased capex and leverage,” Jefferies he said.

Reliance Industries shares are trading close to 52-week low 2,180 a piece that hit the BSE earlier this week. The stock is down more than 13% so far in 2023 (year-to-date or YTD).

In CY23, global brokerages continue to see JPMorgan Reliance Industries Ltd. (RIL) as a relative outperformer in what could be a sluggish overall earnings environment, but several potential catalysts for absolute outperformance in CY24-25 See help to do.

“We see continued strength in the refining business, a potential rebound in petrochem spreads from decade lows fueled by the reopening of China, and volume growth in E&P – driving earnings growth. RIL continues to offer multiple growth options across businesses (petrochem, E&P, telecom, retail, financial services, new energy) and ongoing investments should drive the next phase of growth,” JPM said in a note last week. Said.

The views and recommendations given above are those of individual analysts or broking companies and not of o2help.in.

RELATED ARTICLES

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SIGNUP & GET $10000 BONUS

Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments