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RIL shares drop after financial service firm UBS issues 'sell' advisory

Currently, 27 brokerages have a 'buy', seven have 'hold' and six have a 'sell' call on the RIL stock

BS Reporter  |  Mumbai 

Bonds, Stock markets, Shares, Trading

Shares of (RIL) dropped the most in almost a month after issued a ‘sell’ call. The brokerage set a price target of Rs 870, about six per cent lower than the current market price. Shares of closed at Rs 923.5, down 2.5 per cent on the BSE.

analysts Amit Rustagi and Navin Killa in a note on Monday said RIL’s $60-billion spend on expanding petroleum coke, gasification, petrochemicals and its telecommunications businesses won’t start generating cash anytime soon, to help it pare its debt.

Shares of have gained more than 70 per cent in the past year. Currently, 27 brokerages have a ‘buy’, seven have ‘hold’ and six have a ‘sell’ call on the stock, data provided by Bloomberg showed. The consensus 12-month price target for is Rs 975.

First Published: Tue, January 16 2018. 21:51 IST
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