Buy Reliance for a New Target of Rs.2700
Buy Reliance Industries Ltd Share for a long term with an expected target of Rs.2700. It might be a shocking target for some investors but an actual value of Reliance will stand near of Rs 2800. Is there any deals to come, has net profit doubled in business then how.
There called EPS and P/E, for an instance if we calculate consolidated EPS which is now 63.29 with a standalone P/E which is 44.27 the final price will come 2801. This mean the share price of Reliance is still trading in a discounted price. Time to time there might be some volatility in the stock market but for a long term investment one can stay invested with Reliance or can add at every dips.
In the last couple of days Reliance share price has been corrected 20% from it’s 52weeks high. Few investors got chance to buy around 1850 levels. With a recent sharp fall in Reliance share price, there was a rumors all around with the chairman health issues. But all these rumors got abandoned completely with a 100 points rally in just 2days.
And nevertheless once again Reliance group of industries has proved they were the market leader in all parameters aspects of business. Today we got a news that Reliance has received of RS.9555 crore from Saudi Public Investment Fund for equity stake of 2.04% in Reliance Retail Ventures Limited. This investment values RRVL at a pre-money equity value of RS 4.587 lakh crore. This investment will further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment said in a statement by Mukesh Ambani company.