RIL Share Price: Reliance shares will become Rs 4,495…will increase by 54%? Brokerage said- buy

New Delhi: Mukesh Ambani's Reliance Industries has given a big update. Goldman Sachs says that the share of Reliance Industries Limited is expected to increase by 54 percent. Foreign brokerage firms are bullish on Reliance Industries' corporate exposure, business tailwind, value unlocking, good capex allocation.

Goldman Sachs said Reliance has invested more than $125 billion in capital expenditure over the past 10 years, including long-term spending in hydrocarbons and telecom. It said the capital expenditure cycles for Hydrocarbons and Telecom 4G were completed during the financial year 2017-2019. Now money is being spent on 5G.

Reliance shares are performing well
Goldman says Reliance Industries is investing heavily in businesses with low capital expenditure, high returns and short duration over the next 3 years. This is why Reliance shares are performing well in the Indian stock market on two fronts – increasing returns and gaining valuations through equity sales in new businesses.

54 percent return by financial year 2026
The brokerage said that Reliance shares can give good returns in the next two years, as the capital expenditure in Reliance's business is expected to reduce significantly. There will be a reduction in costs from oil to chemical business. So Reliance shares have remained flat over the past month, while the stock has gained 15 percent so far in 2024. This stock has risen 32 percent in the last one year.

A foreign brokerage said that we are seeing huge growth in the retail business of Reliance. Apart from this, good growth is also expected in refining and petrochemical business. Goldman said the target for Reliance shares is Rs 4,495, which indicates an upside of 54 percent.

Great rise in shares of Reliance Industries
A spectacular rise was seen in the shares of Reliance Industries on Wednesday. The company's shares closed at Rs 2983.75 with a gain of 3.49 percent. These days the company has again achieved a market cap of Rs 20 lakh crore. So in the last trading session on Tuesday, the company's shares closed at Rs 2884.15.