Bernstein raises Reliance Industries target price to ₹1,640, citing 3-year low valuation

Seeing a 3-year low valuation in Reliance Industries Ltd (RIL) shares, global brokerage firm Bernstein has raised its target price on the stock to ₹1,640, implying a potential upside of 15.4% from the stock’s previous close, while maintaining an ‘outperform’ rating on the same.