RIL shares at a good entry point, says CLSA
Mumbai: CLSA said Reliance Industries is at a ‘good entry point’, while upgrading its ratings on the stock to ‘buy’ from ‘outperform’ and raising its price target to ₹2,955 from ₹2,850. RIL shares rose 2.2% to close at ₹2,386.35 on Monday.
“After a sharp fall, Reliance is now within 15% of our conservative value (₹2,020), which uses 18-month old deals to value Jio and Retail and assigns no value to its new energy segment,” said CLSA’s analyst Vikash Kumar Jain in a client note.
