Brokerages bullish on Ambani's mega plans; see up to 20% upside in the stk

While most brokerages remain optimistic on the road ahead for the company and welcomed its 'green initiative', most analysts say the execution of the same hold key to growth for the company

Most brokerages have given a thumbs-up to Mukesh Ambani’s mega investment plans unveiled in the company’s 44th annual general meeting (AGM) on Thursday. The market, however, does not seem to be in sync with this – at least for now – with the stock losing 2.4 per cent in Thursday’s trade and another 2.3 per cent on Friday. With this, the counter has lost ground continuously for five sessions and wiped off over Rs 60,000 crore in market capitalisation (market cap) during this period.

While most brokerages remain optimistic on the road ahead for the company and welcomed its ‘green initiative’