Reliance Share Price Soars by 3.5% to Rs 2,984 in Thursday’s Trading Session
In a positive turn of events, Reliance Industries Limited’s share price witnessed a 3.5% increase, closing at Rs 2,984 on Thursday. Global brokerage firm Goldman Sachs has given a positive response to this surge in share price.
Analysts Predict Bullish Trend for Reliance Industries Shares
Experts believe that in a bullish scenario, Reliance Industries’ share could rise by 50-55%. However, there is a possibility of a 12-13% decline in share price during a bearish market. On Thursday, March 28, 2024, Reliance Industries’ share closed at Rs 2,970.30, marking a 0.52% decline.
Goldman Sachs Forecasts Improvement in Reliance Industries’ Cash Return Ratio
According to Goldman Sachs’ report, there is hope for an improvement in Reliance Industries’ cash return ratio by the financial year 2027. The company’s EBITDA is expected to increase by an average of 17% between the financial years 2024 and 2027.
Reliance Industries’ Focus on Retail and Renewable Energy Businesses
Over the past 10 years, Reliance Industries has invested Rs 10.5 lakh crore in various sectors, with a major focus on hydrocarbons and telecommunications. Going forward, the company will prioritize its retail and energy production businesses.
Positive Outlook for Reliance Industries’ Retail and Renewable Energy Generation Business
Reliance Industries’ margin is significantly higher in its retail and renewable energy generation business. The company’s capital return on capex is positive, and the expected launch of its solar power and battery plants is eagerly awaited.
Investment Advice and Target Price for Reliance Industries Shares
Goldman Sachs has recommended investing in Reliance Industries shares with a ‘Buy’ rating. Experts have raised the target price for the company’s shares from Rs 2,925 to Rs 3,400. It is anticipated that in the coming days, the share price could witness a 17-18% increase from the current levels.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
