Reliance Industries Share Price: If an investor invests in the shares of Reliance Industries, the largest private sector company, then the stock can give a return of 33 percent to the investors from the current level. Foreign brokerage house Jefferies has said these things in its report.
Jefferies has upgraded the target of Reliance stock to Rs 3100 from Rs 3060 in its report. On April 3, 2023, the share of Reliance Industries was closed at Rs.2331. That is, from these levels, the stock can give a return of Rs 779 per share or close to 33 per cent. According to the report of Jefferies, in the base case scenario, the stock can go up to Rs 3100 and in the upside scenario, the stock can go up to Rs 3450, which means it can also give a return of 48 percent from the current level. While the downside risk is 3% down to Rs 2250 only.
Jefferies has estimated the value of Jio Financial Services, a company separated from Reliance Industries after the demerger, at Rs 132 to 224 per share. There is a meeting of shareholders and lenders of Reliance Industries on 2 May 2023, in which the demerger of Jio Financial Services will be approved. Jefferies believes that by September 2023, Jio Financial Services may be listed on the stock exchange. For every share of Reliance Industries, investors will get one share of Jio Financial Services. According to Jefferies, the net worth of Jio Financial Services is Rs 28,000 crore, along with the company’s 6.1 per cent stake in Reliance Industries, which is valued at Rs 96,000 crore.
Other brokerage houses are also very bullish on Jio Financial Services Limited. Macquarie Research had said in its report that Jio Financial Services could become the fifth largest financial services company in the country. JP Morgan had said in one of its notes that Reliance’s strength in the digital and retail sector would benefit Jio Financial Services tremendously.
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