Shares of Reliance Industries, the company of the country’s richest industrialist Mukesh Ambani, can give its investors a return of up to 70 percent in the coming days. This is the statement of foreign brokerage house CLSA, which has released its coverage report on Reliance shares.
Reliance Industries shares according to CLSA
CLSA said in its report, the market is ignoring Reliance‘s new energy business with a turnover of $ 40 billion. According to the report, the outlook for Indian solar manufacturers is excellent due to the favorable domestic and export environment. Reliance’s fully integrated 20 gigawatt solar gigafactory is ready for launch in the next 3-4 months. CLSA has estimated the valuation of Reliance’s solar business at $ 30 billion. The brokerage house has given this valuation at a discount to the solar companies recently listed on the stock exchange. Despite this, according to the report, Reliance stock is trading in the range of 5% of rainy-day valuation with zero value of new energy business.
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According to CLSA, many big things will be seen in 2025, so this is the best time to enter Reliance stock. New energy capacity will be started in 2025, growth will return to retail business, AirFiber subscribers will increase and Reliance Jio IPO will also come. CLSA has maintained the outperform rating on Reliance stock and has given a target price of Rs 1650, which is 30 percent above the current level. However, according to the CLSA report, the blue-sky scenario suggests that the stock can jump by 70 percent from the current level.
Today, in the trading session of November 13, 2024, the share of Reliance (Reliance Share Price) is trading at Rs 1251 with a decline of 1.82 percent.
