Shares of Reliance Industries rallied 2% to the day’s high of Rs 2,958 on BSE in Thursday’s session as investor optimism increased after the Ambanis announced signing of a binding agreement with Disney to form a joint venture that will combine the businesses of Viacom 18 and Star India. Global brokerage Jefferies said Disney’s business … Read more
While investors have welcomed Reliance Industries (RIL) Chairman Mukesh Ambani‘s announcement that he will continue in his role for five years and mentor the next generation to play a larger role in the years to come, there were hardly any catalysts at the AGM for the stock to move ahead. “We keep earnings unchanged as … Read more
In the last 5 years, shares of have more than doubled in value, but the foreign ownership in India’s largest company by market capitalization is the lowest in at least 5 years. As of December 2022, the total FII ownership in the index heavyweight stood at 23.48%, and for six quarters in a row, this … Read more
Ltd’s decision to demerge the financial services business and list it on the bourses got a thumbs-up from the analyst community, but there were no firecrackers on Dalal Street following the announcement. Firstly, this business’ contribution to ’s consolidated topline is negligible and therefore, it is unlikely to reap any major benefits in the immediate … Read more
NEW DELHI: Brokerage ICICIdirect expects Reliance Industries to head towards the Rs 2,725 level in the next three months, which is the 80 per cent retracement of the June decline of Rs 2,817 to Rs 2,365 levels. The domestic brokerage said is witnessing buying demand from the key support area of Rs 2,370-2,400 and it … Read more
New Delhi: Global brokerage firm Jefferies remains bullish on India’s largest company () and has kept its ‘buy’ tag intact on the Mukesh Ambani-led conglomerate amid bleak market conditions. Jefferies has given a target price of Rs 2,950, signalling an upside potential of more than 14 per cent for the stock. On Wednesday, the scrip … Read more