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Bernstein raises Reliance target price; here's why it sees 35% upside potential

Updated : July 15, 2021 12:43:43 IST

Bernstein has maintained its overweight stance on Reliance Industries Ltd (RIL) but has upgraded its target price to Rs 2,830 – 35 percent upside potential from current levels.

The firm is raising the target price on an expectation of new investments which are going to emerge for RIL. According to Bernstein, clean energy has the potential to be value accretive.

The brokerage house is hopeful with the Aramco investments.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.

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