Reliance Industries Share Prices Reach Historic High – Positive Views from Goldman, ICICI

Reliance Industries' stock jumped 8.5% in a month, surpassing the Nifty 50's 3% rise in the same timeframe.
Reliance Industries Share Prices Reach Historic High - Positive Views from Goldman, ICICI

Reliance Industries Limited’s (RIL) stock has been doing well lately. On January 11, its price reached a new high of Rs 2,691.20 on the National Stock Exchange, a bit more than the previous day. This increase happened because Goldman Sachs, a significant financial company, recommended buying RIL stocks. They think RIL is doing great in consumer and tech businesses and has a strong oil and chemical business.

Goldman Sachs now thinks the value of RIL stock could go up to Rs 2,885 in a year, which is higher than their previous estimate of Rs 2,660. However, they also think RIL’s profits (measured by something called EBITDA) might be lower than expected in the next few years.

EBITDA is a way to measure how much profit a company makes before paying for things like interest, taxes, and depreciation.

At 10:39 in the morning, the price of RIL stock was Rs 2,670.10, which is 0.75% more than the day before. Over the past month, RIL’s stock price has increased by about 8.5%, more than the overall market increase of 3%.

ICICI Securities, another financial company, thinks RIL’s stock price might go up to Rs 3,050 soon. They say the stock is doing well despite facing some tough times. It’s been stable since 2017, except for a drop during the COVID-19 pandemic.

Morgan Stanley, another financial firm, set a target of Rs 2,821 for RIL stock. They believe there are good reasons for the stock to start doing better after almost two years of not-so-great performance. Morgan Stanley has even added RIL to its list of recommended stocks.

Jefferies, another company, also recommends buying RIL stock and thinks it could reach Rs 3,125. They like the stock’s price and think RIL will see good profit growth, especially from its telecom part, Reliance Jio, which might significantly contribute to the company’s profits due to expected higher charges for phone services.

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