Reliance’s stock has reached close to all-time high
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New Delhi: The shares of Reliance Industries, the company of Mukesh Ambani, the biggest tycoon of India and Asia, have been rising steadily for the last few days. Today it once again reached the top of 52 weeks. As soon as the market opened, it gained almost one percent to reach Rs 2799.90. With this, it has reached very close to its all-time high of Rs 2,856.15. Reliance’s stock reached this level on April 29 last year. Reliance is separating its financial services company Reliance Strategic Investments. After the demerger, it will be named Jio Financial Services (JFSL). The record date for this demerger has been fixed as July 20. That is, investors have time till July 19 to buy Reliance shares so that they can get JFSL shares. This is the reason that there is a rush among investors to buy Reliance shares.
Reliance’s stock was trading at Rs 2785 with a gain of 0.75 per cent at 11.00 am. With this, the market cap of the company has reached Rs 18,84,798.28 crore. Under the merger deal, shareholders of Reliance will get one share of Jio Financial Services for every share held. Ambani is planning to list JFSL by September. This will benefit 36 lakh shareholders of Reliance. In Reliance’s AGM, Ambani can elaborate on its roadmap. The company has not yet announced the date of the AGM. JFSL will be the fifth largest finance company in the country in terms of capital and will compete directly with Paytm and Bajaj Finance.how far will the price go
Reliance’s stock was trading at Rs 2785 with a gain of 0.75 per cent at 11.00 am. With this, the market cap of the company has reached Rs 18,84,798.28 crore. Under the merger deal, shareholders of Reliance will get one share of Jio Financial Services for every share held. Ambani is planning to list JFSL by September. This will benefit 36 lakh shareholders of Reliance. In Reliance’s AGM, Ambani can elaborate on its roadmap. The company has not yet announced the date of the AGM. JFSL will be the fifth largest finance company in the country in terms of capital and will compete directly with Paytm and Bajaj Finance.
how far will the price go
According to analysts, before the demerger and listing of Reliance Strategic Investment, the share price of Reliance could go up to Rs 3,000. According to domestic brokerage Motilal Oswal, the share price of JFSL can be Rs 190. According to global brokerage firm JP Morgan, its price can be Rs 189. Jefferies has called it Rs 179 and Centrum Broking has called it Rs 157 to 190. Motilal has given a target price of Rs 2,825 on Reliance stock. This does not include the value of JFSL. Global investment firm UBS has given a buy rating to the Reliance stock with a target price of Rs 3,000, while JPMorgan has retained it at Rs 2,960.
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