Reliance shares may rise by 70 percent! CLSA expressed surprise at ignoring the stock

Reliance Industries Share Price: The shares of Reliance Industries, the company of the country’s richest industrialist Mukesh Ambani, can give returns of up to 70 percent to its investors in the coming days. This is to say that the foreign brokerage house CLSA has released its coverage report on Reliance shares.

CLSA said in its report, the market is ignoring Reliance’s new energy business with a turnover of $ 40 billion. According to the report, the outlook for Indian solar manufacturers is excellent due to favorable domestic and export environment. Reliance’s fully integrated 20 GW Solar Gigafactory is ready for launch in the next 3-4 months. CLSA has estimated the valuation of Reliance’s solar business at $30 billion. The brokerage house has given this valuation at a discount to solar companies recently listed on the stock exchange. Despite this, according to the report, Reliance’s stock is trading in the range of 5 percent of rainy-day valuation with zero value of new energy business.

According to CLSA, many big things will be seen in 2025, hence this is the best time to enter Reliance stock. New energy capacity will be commissioned in 2025, growth will return in retail business, AirFiber subscribers will increase and Reliance Jio IPO will also come. CLSA, while maintaining the outperform rating on Reliance’s stock, has given a target price of Rs 1650, which is 30 percent above the current level. However, according to the CLSA report, the blue-sky scenario suggests that the stock may rise by 70 percent from the current level.

Today, in the trading session of November 13, 2024, Reliance Share Price is trading at Rs 1251 with a decline of 1.82 percent.

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