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Reliance Industries share price target: Are you also thinking of investing in Mukesh Ambani’s Reliance Industries? So there is a good news for you. Reliance Industries shares are expected to rise by 36% from the current level. Recently, two major foreign brokerage firms Morgan Stanley and JP Morgan have said in their latest report that the company’s shares may soon see a big jump. In the report, both the companies have given a bullish outlook and given it an ‘overweight’ rating.
Hope for improvement here too
JP Morgan has said in its report that the margins of Reliance Industries’ refining business, which were earlier very weak, are now showing signs of improvement. At the same time, the slow pace of sales growth in retail, which was another reason for the recent decline, is also gradually improving.
Free cash flow will be strong
Morgan Stanley also agrees with this. It is noteworthy that after the last two weak quarters, refining margins are showing strength. Global livery is expected to shut down about 600,000 barrels per day of refining capacity by 2025. This situation may prove beneficial for Reliance, which may strengthen its free cash flow.
Reliance Industries shares will increase by 36%
In such a situation, if you are also thinking of investing in Reliance Industries, then let us tell you that Morgan Stanley has given the target price of the company’s shares at Rs 1,662 per share, which is. Nearly 36% more than current levels. On Friday, November 22, Reliance Industries shares rose 3.35% to Rs. closed at 1,264. JP Morgan has set its target target at Rs 1,468. That means, overall, this could be a good opportunity to invest in Reliance Industries.