Reliance Industries Limited (RIL) shares have been performing well on the stock market for a while and surged over 2 per cent on Thursday.

This month has been particularly good for the stock as witnessed a sustained rally, supported by optimism pertaining to its retail and digital business.

While there have been no official announcements yet, the possibility of an initial public offering in the near future cannot be ruled out. The company’s focus on the green energy sector has also kept investor sentiments upbeat.

Read | Why Reliance Industries shares hit all-time high today

On Thursday, Reliance ended the trading session 2.43 per cent higher at Rs 2,489.65 per share on the Bombay Stock Exchange (BSE). Analysts remain optimistic about RIL’s stock and expect it to touch Rs 2,500-2,700 over the next few trading sessions.


Brokerages remain optimistic about RIL’s near-term and long-term performance. Analysts at Sharekhan gave the stock a ‘buy’ rating at a target price of Rs 2,700.

This is based on continued recovery in RIL’s earnings, supported by a recovery in the oil to chemical business margins, gradual telecom tariff hike, high growth in retail and digital services.

Moreover, Reliance’s green energy investments have also contributed to the stock market rally as it is expected to create long-term value.

ICICI Direct, meanwhile, has announced a ‘hold’ rating on Reliance Industries with a target price of Rs 2,480. Analysts at ICICI Direct believe consumer business to be the growth driver going forward.

Kotak Securities is another brokerage that has given a ‘buy’ rating to Reliance Industries with a target price of Rs 2,520. Kotak Securities feels that the stock has sufficient upside potential from the level where it currently stands.


India today

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