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Here's why Macquarie downgrades Reliance Industries to 'underperform', advises to buy around Rs 1,200

Updated : January 31, 2020 02:56 PM IST

Some of the risks highlighted include no Saudi Aramco bid, Reliance Jio's average revenue per user, no IMO benefit, and rising competition in the retail segment.
The brokerage cautions that its fundamental bear case is nearly 35 percent below the current price and it would assign at least a 30 percent weight to each of the risk factors.
Here's why Macquarie downgrades Reliance Industries to 'underperform', advises to buy around Rs 1,200

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