RIL Share: Reliance’s share will become a rocket in the new year! Know what is Mukesh Ambani’s solid plan – reliance industries share could reach all time high in fy 2024 because of mukesh ambani’s giant-killer playbook
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Jefferies analyst Bhaskar Chakraborty said Reliance’s entry into financial services will open up new opportunities for consumer and commercial lending in the country. Demergers and listings can take up to six months. After this, tech, analytics, recovery platforms can be built in a phased manner. Global brokerage has increased the price target of Reliance shares to 3,100. At one o’clock in the afternoon, the company’s stock was trading at Rs 2323.00, down 0.35 per cent on the BSE.
Why can there be a boom
Analysts say that apart from financial services, many factors can also be the reason for the rise in Reliance shares. Stoxbox’s Manish Chowdhary said the company’s O2C business could improve in the near term due to the reopening of the Chinese economy. Tariff hike or 5G capex monetization could boost Jio platform’s cash flow. Along with this, the upstream gas business can also improve. Apart from this, there is a possibility of strong growth in the retail business.
Analysts at Kotak say Reliance’s recent performance is not getting them down their throats. Outlook is positive across all verticals. According to the brokerage, Reliance’s share price should be Rs 2,900. Reliance stock has formed a strong bullish candle pattern on the technical charts. Its RSI is also giving further bullish signals.
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