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Reliance Industries Shares: The market capital of Mukesh Ambani's company Reliance Industries can increase to $ 100 billion. Morgan Stanley has expressed this prediction in a report. The share price and market cap of Reliance Industries, which is active in businesses ranging from oil to telecom, has increased rapidly. Morgan Stanley has set a target price of Rs 3540 for the shares of Reliance Industries in the base case outlook. According to the report, in case of a boom, the stock is likely to reach Rs 4377. In the first base case, the target price of Reliance Industries was Rs 3046.
current share price
The current price of Reliance Industries share is Rs 3120.35. This share has seen fluctuations in the last few days. On 28 June 2024, the share price is Rs 3161.45. This is the 52-week high of the share. In October 2023, the share went down to Rs 2221.05. This is also the 52-week low of the share.
What the brokerage said
Brokerage firm Morgan Stanley expects Reliance Industries revenue to grow at an annual rate of 12 per cent from fiscal year 2023-2024 to 2025-2026, with revenue growth from all segments. The brokerage said- Reliance Industries has been a story of proving itself over the last decade. It has seen significant market capitalisation change due to new revenue streams provided such as new energy, higher telecom charges, chemical business margins.
Retail Business
Reliance expects revised EBITDA forecasts for fiscal 2025 to 2027 to be adjusted by 1-6 per cent, reflecting improved telecom profits and refining margins. Morgan Stanley claims that growth prospects for Reliance's retail division are strong due to rising demand and the company's existing store footprint.
