Reliance Industries share: The market capital of Mukesh Ambani’s company Reliance Industries may increase by up to $100 billion. Morgan Stanley has made this estimate in a report. There has been a tremendous increase in the share price and market capital of Reliance Industries, which is active in business ranging from oil to telecommunication. Morgan Stanley has set a target price of Rs 3540 for Reliance Industries shares in base case outlook. According to the report, in case of bullish situation the share is likely to rise up to Rs 4377. In the first base case, the target price of Reliance Industries was Rs 3,046.
current share price
Currently the share price of Reliance Industries is Rs 3120.35. Fluctuations are being seen in this stock for the last few days. The share price on June 28, 2024 was Rs 3,161.45. This is the 52 week high of the stock. In October 2023, the share had fallen to Rs 2,221.05. This is the 52 week low of the share.
What did the brokerage say?
Brokerage firm Morgan Stanley expects Reliance Industries’ earnings to grow at an annual rate of 12 percent during financial years 2023-24 to 2025-26, with earnings growth from all segments. “Reliance Industries has been a self-evident story over the last decade. It has seen significant market capitalization transformation as it delivered new revenue streams such as new energy, higher telecom charges, margins in the chemical business,” the brokerage said.
hope from retail business
The revised EBITDA forecasts for fiscal 2025 to 2027 have been adjusted down by 1-6 per cent, reflecting the telco’s improving profits and refining margins. Morgan Stanley claims that growth prospects for Reliance’s retail division remain strong due to rising demand and the company’s ongoing store expansion.
