There is a rush among investors to buy Reliance shares.
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Ambani is planning to list Jio Financial Services (JFSL) by September. This will unlock value for 36 lakh shareholders of Reliance. This company will be the fifth largest finance company in the country in terms of capital and will compete directly with Paytm and Bajaj Finance. Experts say that Ambani may announce a record date for listing and allotment of Reliance Strategic Investment in July or August. The name of this company will be JFSL. In the company’s AGM, Ambani can elaborate on its roadmap. The company has not yet announced the date of the AGM.
how far can the price go
Reliance’s share price may go up to Rs 3,000 before the demerger and listing of Reliance Strategic Investment. According to domestic brokerage Motilal Oswal, JFSL’s share price can be Rs 190. According to global brokerage firm JP Morgan, Jio Financial’s share can be worth Rs 189. Jefferies has estimated its price at Rs 179 and Centrum Broking at 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. ICICI Securities says that JFSL could become a trigger if Reliance reveals its plans in the financial sector. The brokerage has kept a target price of Rs 2,850 on Reliance’s stock.
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