RIL share price may surge as much as 50%; massive potential seen in renewable energy push
Mukesh Ambani’s Reliance Industries Ltd (RIL) could surge as much as 50% from current levels, according to global brokerage and research firm Jefferies. Value unlocking from the renewable energy push, stake sale in oil-to-chemical business, and maybe even the public listing of Reliance Jio are expected to support the massive rally in RIL stock. Reliance Industries shares currently trade at Rs 2,108 per share. The oil-to-telecom conglomerate recently announced its foray into the renewable energy space, which according to Jeffries, could be helped by government policies and capital subsidy schemes going ahead.
Renewable strategy to maximise value
Reliance Industries has announced a massive Rs 75,000 crore investment into the renewable energy (RE) space. With a strong balance sheet, the company is expected to adequately fund the capital expenditure.
