![RIL shares fall nearly 3% post Q1; analysts see up to 22% upside](https://images.assettype.com/fortuneindia%2F2022-05%2F754b7680-2b7f-4254-b370-1d3d76a6d957%2Fgettyimages_1230783599_594x594.jpg?rect=0,46,594,297&w=300&q=95)
RIL shares fall nearly 3% post Q1; analysts see up to 22% upside
Most brokerages have reiterated 'Buy' ratings on Reliance Industries, with target price in the range of ₹3,435 and ₹3,786.
Most brokerages have reiterated 'Buy' ratings on Reliance Industries, with target price in the range of ₹3,435 and ₹3,786.
In a bull-case scenario, the brokerage house expects RIL shares to rise to ₹4,495 by FY26, suggesting a potential upside of 56% from the current market price.
Post the completion of this transaction, TV18 Broadcast’s equity stake in Viacom18 will increase to 70.49%.
The Reliance-Viacom18-Disney deal will add ₹40 per share to RIL’s sum-of-the-parts valuation (SOTP), says Jefferies.
Reliance and Disney to merge their media operations in India and Mukesh Ambani-led conglomerate is likely to hold a 61% stake in the merged entity, as per a report.
On Friday, JFS shares rose as much as 14.5% to hit a new all-time high of ₹347, while the market capitalisation increased to ₹2.07 lakh crore.
Reliance Industries shares gained 3% to hit a fresh all-time high of ₹2,937.80 today, while market capitalisation touched record high of ₹19.86 lakh crore mark.
Foreign brokerages Morgan Stanley, CLSA, Emkay Global remained bullish on the RIL shares, giving target price in the range of ₹2,821-3,060 per share.
RIL is likely to post single digit growth in both profit and revenue amid weakness in refining and petchem business due to product cracks and drop in realisations.
RIL shares declined as much as 3.05% to hit a two-month low of ₹2,361.60 on the BSE, while the market capitalisation dipped to ₹16.21 lakh crore.