NEW DELHI: Reliance Industries NSE 1.44 %’ recent announcement of investments in low carbon energy could build a clean energy business worth $36 billion, Bernstein said in a note.
At present, most clean energy companies trade at 2-3 times price-to-sales. Based on Reliance’s capex plans for clean energy, the business may add Rs 395 per share to Reliance’s stock, Bernstein said while upping its price target for the stock to Rs 2,830 from Rs 2,470.
