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From a valuation perspective, today people are valuing Jio at around Rs 750-800 per share for Reliance but as a standalone entity, it could get a 15% higher valuation because of the IPO, says
Abhimanyu Sofat, VP-Research,
On Tata Motors & other auto majors
In case of Tata Motors, two things caused the stock to go up yesterday. One was the buzz in the market about some deal with Tesla which the company denied at the end of the day and the second is the very strong numbers on the retail side for JLR. There was almost 20% growth in the China market.
Synopsis
The RIL stock has fallen 15 per cent in the last three months, compared with a 21 per cent rise in Nifty50.
Reliance Industries chairman Mukesh Ambani
NEW DELHI: At some point last year, Reliance Industries (RIL) played a major role in the rebound that the benchmark equity indices stages from their March lows.
The rally in RIL shares was such that it helped Mukesh Ambani climb up the billionaires’ ranks to become the world’s fourth richest with a fortune of nearly $90 billion.
This was when the stock hit a record high of Rs 2,368.80 in September 2020. Since then, the stock has come off 19 per cent, and Ambani s fortunes have dropped to $73.9 billion. He is no more in the top 10 billionaires list. The dominance of RIL shares in the market benchmarks has also reduced significantly, though most brokerages still remain bullish on the stock.