Business News Desk – Are you also thinking of investing in Mukesh Ambani’s Reliance Industries? So there is good news for you. Reliance Industries shares are expected to rise by 36% from the current level. Recently, two big foreign brokerage firms Morgan Stanley and JP Morgan have said in their recent reports that the company’s shares may soon see a strong rise. In the report, both the firms have given it an ‘overweight’ rating while giving a bullish outlook.
Hope for improvement here too
JP Morgan has said in its report that the margins of Reliance Industries’ refining business, which were earlier very weak, are now showing signs of improvement. Along with this, the slow pace of sales growth in the retail business, which was the second reason for the recent decline, is also gradually improving.
Free cash flow will be strong
Morgan Stanley has also agreed to this. Let us tell you that after the last two weak quarters, refining margins are showing strength. Nearly 600,000 barrels per day of refining capacity is expected to be closed globally by 2025. This situation may prove beneficial for Reliance, which may strengthen its free cash flow.
Reliance Industries shares will rise by 36%
In such a situation, if you are also thinking of investing in Reliance Industries, then let us tell you that Morgan Stanley has given the target price of the company’s shares as Rs 1,662 per share, which is about 36% more than the current level. On Friday, November 22, shares of Reliance Industries closed at Rs 1,264, up 3.35% on the NSE. Whereas JP Morgan has set a target price of Rs 1,468 on it. That is, if we look at the overall picture, this could be a good opportunity to invest in Reliance Industries.
