Reliance shares price poised for 50% returns? 5 key reasons why Mirae Asset Sharekhan is bullish on the stock
- Stock Market Today: Reliance Industries' share price remains in a downtrend having hit a 1-year low on Friday. However, the shares rebounded up to 1.5% on Monday. Mirae Asset Sharekhan expects almost 50% upside for the stock.
Stock Market Today: Reliance Industries share price remains in a downtrend after hitting a one-year or 52-week high of ₹1,608.95 in July. The stock has declined more than 15% in the last six months, hitting a 52-week or one-year low of ₹1202 on Friday.
On Monday, however, Reliance Industries share price rebounded a bit. The stock opened at ₹1217.25 on the BSE on Monday, slightly higher than the previous close of ₹1206. It extended gains to trade at ₹1224, up 1.5%.
Mirae Asset Sharekhan has given a target price of ₹1817 for Reliance Industries shares as they remain among its top conviction investment ideas. The target price indicates more than 48% upside for Reliance stock.
5 key reasons why Mirae Asset Sharekhan is bullish on Reliance
1. Reliance operates across various sectors, which as per analysts reduces dependence on a single sector, offering stability and growth potential. The company is consistently investing in technology and innovation, including the rollout of 5G networks, renewable energy projects, and digital ventures, ensuring its competitiveness in emerging markets.
2. Jio has revolutionised the Indian telecommunications industry, becoming the dominant player in the domestic telecom industry, as per Mirae Asset Sharekhan. It continues to show strong growth with increasing revenue from data services, digital offerings, and monetization of its 5G network.
3. Reliance Retail is benefiting from the growing consumer market, especially in e-commerce and modern retail. Its wide range of products across fashion, electronics, and groceries positions it for sustained growth, said the brokerage.
4 Reliance as per Mirae Asset Sharekhan has attracted significant investments from global players (like Facebook, Google, and Saudi Aramco), enhancing its financial position and expanding its business avenues, especially in digital services.
5. Reliance Industries offers a long-term investment appeal, as per Mirae Asset Sharekhan, as it is well-positioned to capitalise on both India’s growth trajectory and global trends in energy, digital, and retail sectors.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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