Jefferies has put out a note on Reliance Industries and the global brokerage is constructive on RIL. It has set a target price of Rs 2,600 with a buy rating.
It says that the overseas investors are more constructive on Reliance Industries at this point in time compared to the domestic peers.
A majority of the investors believe that Reliance is turning out as a local champion with the right to win in retail and telecom.
Some investors believe that event-driven triggers are behind, but Jefferies believes that there are few more triggers left for the stock to re-rate.
- One is the launch of affordable smartphone
- The Future Group deal
- O2C stake sale over the next 12 months.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
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