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reliance share price: Jefferies initiates coverage on Reliance with buy rating, sees 25% upside

MUMBAI: Jefferies has initiated coverage on Reliance Industries with a buy rating and a target price of Rs 2,600 as it sees the oil-to-telecom conglomerate as a proxy for India s consumption growth story. The brokerage said that a transition from B2B to B2C and a potential stake sale in the O2C business will usher in the next investment cycle in Reliance Industries. The brokerage said Jio should further consolidate its leadership position with 25% EBITDA CAGR and gain 450 bps revenue market share to 42% by FY23. With organized retail only 12% of overall retail and Reliance Retail bigger than the next 10 retailers combined, it is in pole position for growth leadership, the brokerage said. Their contribution in consolidated EBITDA should increase from 37% in FY20 to 49% in FY23, said Jefferies.

reliance shares: Morgan Stanley gives thumbs up to RIL going green; shares gain 2%

Morgan Stanley said RIL is embarking on its journey to address the $800 billion total addressable market in organised retail and e-commerce, $300 billion in chemicals, and $50billion in renewables as demand shifts from oil to alternative fuels.

Reliance Industries shares: Reliance Industries gains as company finalising O2C hiveoff

Stocks in the news: Bharti Airtel, RIL, Future Retail, Adani Green and Jubilant FoodWorks

Explore Now Nifty futures trading on the Singapore Exchange were up 41.50 points or 0.28 per cent at 14,780.20, having moved within a range of 14,744.50-14,792.80 earlier, in signs that Dalal Street was headed for a positive start on Wednesday. Here are a few stocks which may buzz the most in today s trade: Reliance Industries-Future Group: The Delhi High Court on Tuesday provided relief to Amazon as it asked Future Group to maintain the status quo in its deal to sell its retail and wholesale assets to Reliance Industries in a major setback for both companies. Amazon has contested the deal between RIL and Future Group. Future Retail said it will explore all legal remedies and take appropriate steps to pursue the scheme of arrangement.

Market Movers: Defence stocks surge; RIL, 22 others give buy signal

Market Movers: Defence stocks surge; RIL, 22 others give buy signal SECTIONS Share Synopsis The over 1 per cent rise in Reliance Industries’ stake was one of the major reasons both the Nifty 50 and Sensex ended the session in the green. Shutterstock.com The broader market also showed strength as the Nifty Midcap 100 and Nifty Smallcap 100 index closed 0.1 and 0.6 per cent higher, respectively. INSIGHTS NSE Explore Now MUMBAI: A lacklustre session that saw the benchmark indices oscillate between gains and losses through most part of the session ended with a decisive upward move and lifetime closing highs. The gains in the market were aided by positive cues from European peers and strong gains in other Asian markets. Rise in shares of index heavyweights

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