Reliance share price target at ₹1,733? What CLSA, Morgan Stanley, other top brokerages said after AGM
Stating that the stage is set for billionaire Mukesh Ambani-led Reliance Industries (RIL) shares to deliver multi-decadal value creation, brokerages have given target prices going as high as ₹1,733.
The Nifty blue-chip stock, however, fell 2% on Friday after the AGM, as the Jio IPO is expected to leave RIL with a holding company discount. The stock fell another 0.5% on Monday.
Calculations by Jefferies show that, to offer a 10% IRR to its investors, Jio’s market cap would need to be $118 billion by March 2026.
