Reliance Industries Stock Price: The shares of Reliance Industries, the country's largest private company, are rising significantly in the trading session of Wednesday, March 27, 2024. The reason for this rise is the report of foreign brokerage house Goldman Sachs Equity Research in which the brokerage house has predicted a rise of 17.9 percent in the stock of Reliance. While advising investors to buy the shares of Reliance Industries, Goldman Sachs said in its report that the shares of Reliance can touch the level of Rs 3400 in the next 12 months. Due to this report, Reliance shares are trading at Rs 2985 with a rise of 3.50 percent in today's trading session.
Unlock value from listing of telecom and retail business
Goldman Sachs said in its report, Reliance Industries stock can outperform the market in two scenarios which include expansion of returns and value discovery by selling stake in new businesses like Jio and Reliance Retail. According to the report, these two drivers were not present in the last two years, due to which the stock of Reliance Industries has shown better underperformance. But we estimate that in the coming days, an increase in returns along with possible listing of consumer business will help in unlocking value.
The stock may rise by 54 percent
Goldman Sachs said in its report that the target price of the stock for 12 months has been revised to Rs 3400 with a jump of 16 percent in the base case. According to Goldman Sachs, in a bull case, Reliance stock can go up to Rs 4495 with a jump of 54 percent. The brokerage house has advised investors to buy stocks.
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