Top brokerages raise Reliance price targets

(20 second reading) Analysts at most top brokerages raised or retained share price targets on Reliance Industries (RIL) The average analyst price target on Reliance after the fourth quarter results stood at Rs.3,113.94 – implying an upside of 6.67% over Tuesday’s closing.
HSBC said that the oil-to-chemical business is likely to remain lackluster due to adverse macro factors and new capacity commissioning. Although tariff hikes are awaited in the digital services segment, the stock is expected to be range-bound in the near term.
BNP Paribas said that although the consumer business continues to scale up well, there are limited catalysts in other businesses. Jio will be a key driver in FY25 for the company