Index heavyweight Reliance Industries, on Tuesday, crossed ₹ 17 trillion in Market Capitalization. On the same day, it closed with a market capitalization of ₹ 17.05 trillion and on Monday with a market capitalization of ₹ 17.04 trillion.
The last time the Mukesh Ambani-led company closed with a market capitalization of over 17 trillion was on January 11, 2023, at 17.09 trillion. The lowest market capitalization that the company recorded in the past year was ₹ 14.89 trillion touched on March 20, 2023. That marked a sharp 22% drop from its lifetime high of ₹ 19.07 trillion attained on April 28, 2022.
Reliance Industries is an Indian conglomerate that operates in various businesses including oil to chemicals, consumer retail, telecom & digital services.
The blue-chip company’s shares currently trade at ₹ 2,483 apiece. The company has a return on equity of 8.33% and an ideal debt-to-equity ratio of 0.41. Its shares were trading at a price-to-earnings ratio (P/E) of 25.56, which is significantly higher than the industry P/E of 5.78, indicating that it might be overvalued as compared to its peers.
A host of brokerages are bullish on the shares of Reliance Industries. Analysts from Bernstein have an ‘outperform rating on the stock with a target price of ₹ 3030.00. This translates to an upside of 22.02% as compared to the current share price levels.
CLSA has maintained a ‘Buy’ on Reliance Industries with a target price of ₹ 2,970 per share. This implies an upside of 19.61% as compared to its current share price.
Jefferies has a buy call on the shares of the company with a target price of ₹ 3125.00 apiece. This translates to an upside of 25.85% as compared to its current share.
Written By Simran Bafna
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Blue Chip Stock to BUY now for an upside of more than 25%; Do you hold it? appeared first on Trade Brains.
