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UBS gives RIL a 'Buy' rating, sees 24% upside
UBS just gave Reliance Industries (RIL) a "Buy" rating, expecting the stock to jump 24% from current levels, thanks to its push into new energy.
They've set a price target of ₹1,750—up from Monday's close of ₹1,413.70.
UBS points to RIL's growing influence in India's digital and energy spaces as key reasons for their optimism.
AGM on August 29 to shed light on Jio IPO
Other analysts are also upbeat: CLSA and JPMorgan have both set high targets, highlighting RIL's moves in AI, retail, media, and consumer businesses.
Everyone's watching the August 29 AGM for news on a possible Jio IPO and future plans.
So far in 2024, RIL shares are already up 16%, with most experts recommending a 'Buy' as the company keeps expanding its reach across major sectors.