Reliance Industries Share To Give 35 Percent Return From Current Level Reliance Jio Or Reliance Retail IPO Likely In 12 Months Says CLSA
Reliance Share Price: In 2023, due to the report of Hindenburg Research regarding Adani Group and the global banking crisis, the mood of the stock market around the world has deteriorated, including the Indian stock market. But the share of the country’s largest private company Reliance Industries has also borne the brunt of this fall in the stock market, which has fallen by 20 per cent in the last four months. But foreign brokerage house CLSA is extremely bullish on Reliance shares. The brokerage house believes that Reliance’s stock can give a return of 35 per cent from the current level.
CLSA has said in its report that the share of Reliance Industries can go up to Rs 2950. After this report, in the trading session of Tuesday, March 21, 2023, there has been a great rise in the stock. Reliance’s share has reached Rs 2270 with a jump of 3.11 per cent. The stock had closed at Rs 2,201 on March 20.
The brokerage house has said in its report that based on the three-year-old deal between Reliance Jio and Reliance Retail, Reliance’s stock is trading only 5 per cent above its conservative value. Whereas when the deal was announced regarding Saudi Aramco, according to that value, the stock is trading at 15 percent discount.
Reliance sold stake to private equity investors three years ago. In such a situation, CLSA expects that there is a possibility of launching the IPO of Reliance Jio or Reliance Retail in the next 12 months.
CLSA expects Reliance Jio to launch an affordable 5G smartphone by the end of 2023 along with the introduction of portable 5G devices ie Jio AirFiber service. The brokerage house expects Reliance Retail to benefit from the launch of Independence and Campa Cola brands.
Reliance Industries is the company with the highest weightage on the stock exchange. Its weightage is 13.36 per cent in BSE Sensex and 10.5 in Nifty. If there is a boom in Reliance, then the market can get its benefit.
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