Home >Markets >Stock Markets >Reliance Industries shares surge past 2,000. What analysts say
Reliance Industries has hit a new record high of  ₹2,000 for the first time on BSE today. (ANI )
Reliance Industries has hit a new record high of 2,000 for the first time on BSE today. (ANI )

Reliance Industries shares surge past 2,000. What analysts say

  • A share of Reliance Industries has surged by 130% from the lows seen in March
  • Year to date, the stock has gained 34%

Reliance Industries has hit a new record high of 2,000 for the first time on BSE today. The share price is hovering around 2,004 at 12:42 p.m., on July 22. The stock is 1.68% high from the last day's closing. It touched 2,010 during the day. The share has surged by 130% from the lows seen in March. Year to date, the stock has gained 34%. The stock became the first Indian company to cross the market capitalisation of over 12 lakh crore.

Reliance Industries yesterday announced to defer their June quarter results to July 30 instead of July 24. According to sources, Reliance Jio, a subsidiary of Reliance Industries has recently sought spectrum in certain frequencies from the Department of Telecom for holding trials of the latest 5G technology.

The company held its AGM on Wednesday last week where Mukesh Ambani, Chairman of Reliance Industries and the world's fifth richest man, spoke about Jio's deal with Google to develop android based operating system.

Reliance Industries enjoy a debt free status and a healthy balance sheet. Here's what the analysts have to say about the stock:

Motilal Oswal Securities recommends to 'Buy' with a target price of 2,020

"Reliance Industries’ (RIL) AGM held on 15th Jul’20 continued to focus on the next Gen business. It is a consumer conglomerate"

Google would invest INR337b in Jio Platforms for 7.73% stake sale at INR4.36t equity valuation. While Jio Platforms has seen multiple financial investors, itspartnerships with global technology majors like Facebook and Google underscores the strong long-term strategic potential of the business. Jio Platforms has announced that it has built in-house 5G solutions, which are ready for trials and awaiting spectrum availability. The company is ahead of the curve in terms of technology advancement capabilities and driving growth. Jio Mart is the only online-offline model. The Saudi Aramco deal would aid the company in building an integrated Oil-to-Chemicals Portfolio through potential partnerships.

Kotak Institutional Equities recommends 'Buy'

"All’s well except O2C transaction."

RIL’s AGM highlights included—(1) strategic partnership with Google and collaboration to co-develop low-cost smartphone for 2G to 4G/5G transition in India, (2) encouraging progress on Jio Mart with near-term plans to expand it across geographies and categories, (3) possible induction of strategic and financial partners in Reliance Retail, (4) elevated exports-led operations in O2C business post-Covid, (5) development of offerings such as Jio Meet, Jiotv+ and in-house 5G solution and (6) delay in O2C transaction with Saudi Aramco for now. Retain BUY

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