The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in crude prices. Thirty-three of the 38 analysts that cover the conglomerate have buy ratings, with many citing attractive valuations as well as optimism for its various oil-related, consumer and telecom businesses.
The planned listing of the company’s Jio Financial Services Ltd. later this year “could drive value unlocking and is a potential key trigger for the stock,” said Hemang Khanna, an analyst at Nomura Financial Advisory & Securities India Pvt. He added that consumer and new-energy businesses will be key drivers of value creation for Reliance.
Bloomberg
news/billionaire-mukesh-ambanis-reliance-has-stock-analysts-most-bullish-in-7-years/articleshow/100095727.cms”>Source link
